Mastercard IncorporatedPenjualan
Ichimoku Watch: Mastercard Testing Ichimoku Resistance
Upcoming Earnings
Mastercard Incorporated (ticker: MA) is scheduled to report earnings before the market opens on 31 July. The consensus Earnings Per Share (EPS) estimate for the fiscal quarter ending June 2024 is $3.51. The reported EPS for the same quarter a year prior was $2.89.
Active Downtrend
Basic trend studies demonstrate that the stock has been gradually trending lower since forming an all-time high of $490.00 in late March of this year. Price action has been working between two parallel downward lines that make up a descending channel (from $468.15 and $436.90).
What is interesting is that the stock recently bounced from the lower side of the descending channel, with the pullback testing the Ichimoku Conversion Line (blue at $442.15). Also, having the Base Line circling just above this line (red at $445.97) offers traders a resistance area to consider bearish scenarios in line with the downtrend.
Also situated near the Conversion Line and Base Line resistance zone is the Ichimoku Cloud between the Leading Span A (light green at $444.06) and the Leading Span B (light orange at $446.90).
Price Direction?
Today’s analysis reveals that Mastercard is demonstrating a bearish stance ahead of earnings tomorrow. The pullback from the lower channel support edge, therefore, may be viewed as a sell-on-rally signal, particularly at the underside of the Conversion Line/Base Line resistance area and the neighbouring Ichimoku Cloud.
Mastercard Incorporated (ticker: MA) is scheduled to report earnings before the market opens on 31 July. The consensus Earnings Per Share (EPS) estimate for the fiscal quarter ending June 2024 is $3.51. The reported EPS for the same quarter a year prior was $2.89.
Active Downtrend
Basic trend studies demonstrate that the stock has been gradually trending lower since forming an all-time high of $490.00 in late March of this year. Price action has been working between two parallel downward lines that make up a descending channel (from $468.15 and $436.90).
What is interesting is that the stock recently bounced from the lower side of the descending channel, with the pullback testing the Ichimoku Conversion Line (blue at $442.15). Also, having the Base Line circling just above this line (red at $445.97) offers traders a resistance area to consider bearish scenarios in line with the downtrend.
Also situated near the Conversion Line and Base Line resistance zone is the Ichimoku Cloud between the Leading Span A (light green at $444.06) and the Leading Span B (light orange at $446.90).
Price Direction?
Today’s analysis reveals that Mastercard is demonstrating a bearish stance ahead of earnings tomorrow. The pullback from the lower channel support edge, therefore, may be viewed as a sell-on-rally signal, particularly at the underside of the Conversion Line/Base Line resistance area and the neighbouring Ichimoku Cloud.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.