This morning, Visa Inc V and MasterCard Inc MA are surging sharply higher. The catalyst for the rally in these two leading stocks is a strong reaction to the MasterCard earnings announcement. MA stock will have some short term intra-day resistance around the $385.00 level. Visa Inc stock is obviously trading higher in sympathy to the MasterCard earning report. Visa stock is now trading at a new all time high at $106.13 a share.
Other leading credit card stocks that are trading higher include American Express Co AXP and Discover Financial Services DFS. It is important to note that AXP and DFS are also bank holding companies; therefore they will not always trade along with the credit card companies such as Visa and MasterCard.
Nicholas Santiago
InTheMoneyStocks.com
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