Details: A potential bottom near $500 may have marked the end of wave 2. If so, wave {i} of 3 could now be emerging. Alternatively, wave (5) might have already ended, implying a deeper correction could follow.

Daily Chart Overview

Mastercard Inc. (MA) may be in the early stages of a new bullish move. The Elliott Wave outlook identifies a possible low around $500 that could complete wave 2, setting up the foundation for wave 3 of (5). Initial indications show wave {i} in progress. If confirmed, this structure would indicate a continuation higher. However, an alternative count suggests that wave (5) might be complete at the recent high, hinting at the potential for further downward movement if confirmed.

MA Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave (v) of {i}.

Direction: Upside in wave v.

Details: Wave (v) of {i} appears close to completion. A pullback into wave {ii} may follow. Alternatively, this could be wave {b} of 2 within a double correction if Minor wave 2 is still developing.

1H Chart Overview

In the short term, Mastercard is likely approaching the end of wave (v) of {i}. This would be followed by a corrective wave {ii}. However, if Minor wave 2 remains incomplete, the current move could represent wave {b} of 2 in a complex correction. Traders should stay alert and wait for confirmation of either wave {ii} or an extended corrective setup.

MA Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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