TradingLounge - Mastercard Inc. (MA) US Stock Daily Chart Analysis
MA Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave 3 of (5)
Direction: Bullish Trend in Wave 3
Details: Mastercard stock may have bottomed near the $500 level, potentially completing wave 2. If validated, wave {i} of 3 is now initiated. Alternatively, if wave (5) already concluded, a deeper market correction could be underway.
Mastercard Inc. Daily Chart Overview:
Mastercard Inc. (NYSE: MA) appears to be entering a new bullish phase, according to Elliott Wave analysis. A possible low near $500 could signify the end of corrective wave 2 and the beginning of wave 3 of (5). Current wave activity suggests that wave {i} may be forming, supporting further upside potential in MA stock. However, an alternate count suggests wave (5) might be completed at the recent high, which could lead to a broader correction. Investors should monitor price confirmation for continued upward momentum or potential retracement.
Mastercard Inc. (MA) 1H Chart Analysis
MA Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave (v) of {i}
Direction: Uptrend in Wave (v)
Details: The development of wave (v) of {i} is nearing completion. This could lead to a retracement into wave {ii}. Alternatively, if Minor wave 2 remains active, the current move could reflect wave {b} of 2 within a complex corrective structure.
1H Chart Overview:
Short-term Elliott Wave analysis for Mastercard indicates that wave (v) of {i} may soon conclude, paving the way for a corrective pullback in wave {ii}. In a different scenario, if Minor wave 2 is not yet complete, this structure might represent wave {b} of 2 as part of a double correction pattern. Traders should be cautious and await confirmation to determine whether the bullish trend resumes or if further corrective movement unfolds.
Technical Analyst: Alessio Barretta
Visit: TradingLounge.com for detailed analysis and market updates.
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