What's Up With Mastercard Stock Today?

Mastercard Inc. MA shares were trading lower Wednesday in sympathy with Visa Inc V, which dipped following fourth-quarter earnings. In other news Jim Cramer is saying he is using the weakness in the stock as a buying opportunity.

Mastercard was down 6.05% at $335.70 at the close Wednesday.

Mastercard Daily Chart Analysis

• Shares made a move lower in what technical traders call a sideways channel.
• The stock once saw resistance near the $320 level in the past, but now this level holds as support. The $370 level is an area where the stock has struggled to cross above and may continue to hold as resistance.
• The stock trades below both the 50-day moving average (green) and the 200-day moving average (blue), indicating the stock’s sentiment has been bearish.
• Each of these moving averages may hold as an area of resistance in the future.
• The Relative Strength Index (RSI) saw a push lower Wednesday and now sits at 38. This push lower indicates that the stock now has more selling pressure than buying pressure.

What’s Next For Mastercard?

Bullish traders are looking to see the stock bounce and begin to form higher lows. Bulls would then like to see the stock move higher toward the $370 resistance and break above it. If this level can begin to hold as support, the stock may see a push higher in the future.

Bearish traders are looking to see the stock continue to fade lower and eventually break below the $320 level. If this level begins to hold as resistance, then the stock may see a further strong bearish push.