MA Elliott Wave technical analysis
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Minor wave 3.
Direction: Upside within wave 3.
Details: Looking for upside within wave 3 in what could be an extension in wave 3.
META Elliott Wave technical analysis – Daily chart
On the daily chart, MA is in an impulsive mode, currently progressing through Minor wave 3. There is the expectation of upside continuation within wave 3, and there are indications that this wave may experience an extension.
This type of structure, where wave 3 extends, often signifies strong bullish momentum. Traders can anticipate that Mastercard may push to new highs as this extended wave develops, possibly surpassing significant resistance levels. The chart is likely targeting higher prices in this trend, supported by the broader impulsive structure.
MA Elliott Wave technical analysis
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Minute wave {v}.
Direction: Upside in wave {v}.
Details: Here showing the alternative count in what could be a five wave move within minor wave 1.
META Elliott Wave technical analysis – One-hour chart
On the 1-hour chart, Mastercard is currently within Minute wave {v}. The current count suggests an alternative scenario in which wave {v} is part of a five-wave move within Minor wave 1. This count implies that, while we are nearing the end of this smaller wave sequence, there could be additional bullish movement before a larger correction takes place.
As wave {v} completes, traders should watch for signs of exhaustion at resistance levels. However, the overall structure remains supportive of continued upward momentum within the context of the larger impulsive trend.
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 anticipate potential future movements.
Mastercard Inc. (MA) Elliott Wave technical analysis [Video]
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended content
Editors’ Picks
EUR/USD stays below 1.1000 after EU data
EUR/USD fluctuates in a tight range below 1.1000 in the European session on Monday. The data from the Eurozone showed that Retail Sales rose by 0.2% on a monthly basis in August as forecast, failing to boost the Euro. Investors await comments from Fed officials.
GBP/USD struggles near 1.3100, Fedspeak awaited
GBP/USD is struggling near 1.3100 in European trading on Monday, erasing early gains. The pair is undermined by a negative shift in risk sentiment but the downside appears capped amid the US Dollar retreat ahead of speeches from several Fed policymakers.
Gold price keeps the red below $2,650, remains confined in a familiar trading range
Gold price remains on the defensive amid reduced bets for a 50 bps Fed rate cut in November. The USD consolidates last week’s strong gains and exerts some pressure on the XAU/USD. Geopolitical risks might continue to act as a tailwind and limit losses for the precious metal.
Is Dogecoin ready for a rally?
Dogecoin price extends gains on Monday after retesting its support level last week. This rise is supported by DOGE’s daily active addresses, an on-chain metric that has spiked to the highest level since early April.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.