Mastercard is advancing within Minor Wave 3.
Price is targeting the lower area of Minor Group 2, around $650, which could act as a significant resistance zone.
The bullish structure suggests ongoing momentum and potential for a sustained uptrend.

MA Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave {iii} of 3.

Direction: Nearing top of Wave {iii}.

Details:

Mastercard is close to completing Wave {iii} within Minor Wave 3.
Price is approaching the 1.618 Fibonacci extension of Wave {i}, around $595, which may signal a potential short-term retracement in Wave {iv}.
Traders should anticipate a pause before the next upward leg begins.

Summary

This Elliott Wave analysis of Mastercard (MA) integrates insights from both the daily and hourly charts. It reflects a strong upward trend in development. The current focus is on the price behavior near the $595 and $650 levels, with key wave completions expected soon. These zones are important for planning the next trading moves, in line with Elliott Wave principles.

Mastercard Inc. (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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