Mastercard Inc. (MA) Elliott Wave Analysis
This detailed analysis of Mastercard Inc.'s Elliott Wave positioning offers insights into possible upcoming trends based on the current wave structure and technical support levels.
Mastercard Inc. (MA) Elliott Wave Analysis | Trading Lounge Daily Chart
MA Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Minor wave 2
Direction: Upside in 3 of (3)
Analysis:
If this Elliott Wave count is accurate, we can expect Minor wave 2 to be a shallow retracement, as it appears to be currently. A continuation to the upside is anticipated, leading into a third of a third wave, which often exhibits strong impulsive momentum, suggesting substantial bullish action.
MA Elliott Wave Technical Analysis – Daily Chart
On the daily chart, Mastercard is likely positioned in Minor wave 2 of a broader impulsive wave structure. Assuming this wave count holds, we should see a shallow correction phase, allowing for an upward move in wave 3 of (3). The third wave in such an impulsive structure often demonstrates significant momentum, so additional upward movement is expected.
Mastercard Inc. (MA) Elliott Wave Analysis | Trading Lounge 1H Chart
MA Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave {i} of 3
Direction: Upside in {i}
Analysis:
In the 1-hour chart, Mastercard seems to have completed a flat correction in wave 2, with support found near the $500 level, corresponding to TradingLevel 5. As long as this support level remains intact, we can expect the trend to continue moving upward, initiating wave {iii} to the upside.
Summary of MA Elliott Wave Analysis
This Elliott Wave analysis for Mastercard Inc. (MA) evaluates both the daily and 1-hour timeframes, using Elliott Wave Theory to forecast potential future price movement.
MA Elliott Wave Technical Analysis – 1H Chart
The 1-hour chart analysis suggests that MA may have completed a flat correction in wave 2, with wave {i} now trending upwards. Support has been established at the $500 level, which corresponds to TradingLevel 5. Provided this support holds, further upward action in wave {iii} is likely to follow.
Technical Analyst: Alessio Barretta
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