Mastercard shares have soared this year, as they did in 2018 ... and 2017.
We believe that any adjustment is a welcome opportunity for new long positions.
Growth is expected to continue into 2020.
All key indicators at the fundamental level turn green.
Mastercard (MA.US) continues its incredible growth. In our view, the stock is a good buy opportunity with every adjustment and would be a great addition to any growth oriented portfolio. Do not be mistaken, this company continues its near-perfect presentation. For years, there have been comments that stocks have been overvalued, but the company has continued to grow, pushing prices up and up.
This is one of the best investments that can be made and as such we recommend buying with every drop. With that being said, the price has fallen from its 52-week high and not by a little, which leads us to think that the upward movement may soon continue.
We are looking at the formation of a potential bearish flag that would lower the price even lower to the area at 266.89, where we have 50 Fibo and a trend line. There we will expect the price to find strong support to enable us to position ourselves with purchases.
Alternatively, if the foundation deteriorates for the company we will expect the downward movement to continue below the trend line to the area at 231.57.
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