MA Elliott Wave Analysis Trading Lounge

Mastercard Inc., (MA) Daily Chart

MA Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Minor wave 2

DIRECTION: Upside in 3 of (3).

DETAILS: If the count is correct, we should expect a shallow 2, such as the one we potentially have right now, and continuation higher in what would be a third of a third which is often characterized by a strong impulsive look.

MA Elliott Wave Analysis Trading Lounge

Mastercard Inc., (MA) 1H Chart

MA Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Wave {i} of 3.

DIRECTION: Upside {i}.

DETAILS: Here’s the possible flat in wave 2 which found support on top of TradingLevel5 at 500$. As long as 500$ holds we should expect continuation higher.

This Elliott Wave analysis for Mastercard Inc., (MA) examines both the daily and 1-hour charts to assess its current market trend, utilizing Elliott Wave Theory to anticipate potential future movements.

* MA Elliott Wave Technical Analysis – Daily Chart*

The daily chart shows that Mastercard is likely in Minor wave 2 within a larger impulsive structure. If this count holds, the corrective phase should be shallow, allowing for a strong continuation higher in wave 3 of (3). Wave 3 of a third wave is often characterized by strong momentum, and further upside is anticipated from this point.

* MA Elliott Wave Technical Analysis – 1H Chart*

On the 1-hour chart, MA appears to have completed a flat correction in wave 2, with wave {i} now moving higher. Support was found at $500, which aligns with TradingLevel 5. As long as this support level holds, the expectation is for continued upside action in wave {iii}.

Technical Analyst : Alessio Barretta

More By This Author:

Elliott Wave Technical Analysis: Vechain Crypto Price News - Monday, Nov. 4
Elliott Wave Analysis Of SP500, Nasdaq, Apple, Tesla Ahead Of U.S. Elections
Elliott Wave Technical Analysis MercadoLibre Inc.