Mastercard Incorporated (NYSE: MA), a global leader in payment technology, continues to navigate the ever-evolving landscape of financial transactions. As digital payments become increasingly integral to modern economies, Mastercard remains at the forefront of innovation. This article dives into the recent technical developments and potential trajectories within its daily cycle using Elliott Wave Theory.
Last month, Mastercard reached a new all-time high, surpassing the 2021 peak of $401. This ascent followed a previously identified bullish sequence from the October 2022 low. The higher high sequence implies a target around $452 - $522. The stock's journey to this range hinges on the daily cycle's structure.
The current movement is likely part of a nesting structure, possibly involving a leading diagonal in wave (1), projected to conclude near the 61.8% Fibonacci Extension area of $410 - $426. Subsequently, a three-wave pullback within wave (2) is anticipated, with support anticipated above the March 2023 low of $340.
Alternatively, if the upcoming move can erase the divergence compared to the July peak, Mastercard might initiate an accelerated ascent within wave (3), bypassing the necessity of a substantial pullback and potentially reaching the daily target at $452 directly.
Investors are advised to seize daily buying opportunities amid potential pullbacks, supporting further upward momentum within the existing bullish sequence for MA in the coming months.
Mastercard MA Daily Chart 8.29.2023
風險提示：本文所述僅代表作者個人觀點，不代表 Followme 的官方立場。Followme 不對內容的準確性、完整性或可靠性作出任何保證，對於基於該內容所採取的任何行為，不承擔任何責任，除非另有書面明確說明。
暫無留言。 來發表第一則觀點吧。