Mastercard (MA) does not seem to be impaired with the slowdown in the retail stocks. This chart is bottom left to top right! Today, Mastercard pushed to new highs and at time of writing was just off the highs. With the SCTR above 75, price breaking to new highs, and the momentum shown on the MACD turning up, this looks strong.
The volume has been a lot stronger in previous years, but the setup still looks robust. At this point, this is the lowest average volume level in a couple of years.
Have a great long weekend and good trading,
Greg Schnell, CMT, MFTA.
About the author:
Greg Schnell, CMT, MFTA is Chief Technical Analyst at Osprey Strategic specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA).
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