Looking at the technical picture of the Mastercard Inc stock (NNYSE: MA), we can see that after a sharp reversal to the upside in the first days of November, the share price kept on climbing higher. That said, the upmove got held near the 344.05 barrier, which is now seen as an important resistance area. At the same time, MA is trading above a short-term upside support line drawn from the low of November 6th. There is a possibility to see a move higher, however, we would prefer to wait for a pop above the 344.05 barrier first, before getting comfortable with larger advances.
A strong push through the 344.05 zone, may spark interest in the eyes of more buyers, which may help the stock to climb to the highest point of November, at 356.35. Initially, MA could stall there for a while, or even correct back down a bit. That said, if the share price remains above the previously-discussed 344.05 hurdle, the stock might reverse to the upside again. If this time MA can overcome the 356.35 area, the next possible aim might be at 367.24, marked by the all-time high.
The RSI and the MACD, although a bit flat, both remain in positive territories. The RSI is above 50 and the MACD is above zero and fractionally above its trigger line. The two indicators continue to show positive price momentum, which is somewhat inline with the above-mentioned scenario.
Alternatively, if the share price breaks the aforementioned upside line and then drops below the 330.30 area, marked by the low of November 30th, that may keep new investors from entering any time soon, as such a move could increase the stock’s chances of falling further. MA might then travel to the 323.79 obstacle, a break of which could set the stage for a push to the 310.08 level, which is the low of November 6th.
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