MasterCard (NYSE:MA) has opened bearishly below the pivot of $541.20 today and has reached the first level of support at $538.41. Should the shares continue to fall, the support pivots of $536.23 and $531.26 will be of interest.
MasterCard, Inc. is a global payment solutions company that provides a variety of services in support of the credit, debit and related payment programs of financial institutions. The Company offers transaction processing services for credit and debit cards, electronic cash, automated teller machines, and travelers checks.
MasterCard has overhead space with shares priced $538.17, or 7.0% below the average consensus analyst price target of $578.50. The stock should find initial support at its 50-day moving average (MA) of $521.87 and further support at its 200-day MA of $473.02.
Over the past year, MasterCard has traded in a range of $389.90 to $546.90 and is now at $538.17, 38% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.3%.