Mastercard: wait and buy

Mastercard: wait and buy

2021-10-25 • Updated

Mastercard may present a very worthy opportunity to buy. Why not buying right now? Because we don’t know yet if the plunge has finished or not. That’s what they call “catching falling knives” – let’s not do that.

What we need to do is wait. We see that this stock lost approximately 10% of its value falling from 357 to 327. Very possible, it will reverse around this level as 324 (meaning, the area around it) has been serving as support since November and saw the price bounce off it several times.

However, the plunge we see here is quite strong. We have to factor in the probability that the price may penetrate the support of 324 and dive into the channel 314-324. Very possibly,  it will reverse over there; if it doesn’t – we only have the support of 287 left since Summer 2020. So far, there is little visible evidence to assume that bears may go that far but it’s better to be safe than sorry.

That’s why your plan is to wait and watch for reversals. Don’t look for signs of reversal – wait for an actual reversal. After that – buy. While you hold it, it’s advisable that you keep it until it reaches 357. From 324 to 357 it’s approximately 10% - a pretty good catch, in potential.

MASTERCARDDaily.png

                                                                                                    LOG IN

Similar

What lies ahead for gold?
What lies ahead for gold?

As you must already know, the direction of Gold is mainly dependent on the Price action of DXY (US Dollar index). So first, we take a look at the US Dollar index.

What Does the CPI Have in Store?
What Does the CPI Have in Store?

On January 12, the Bureau of Statistics will publish the Consumer Price Index (CPI) figures, a key index for determining interest rates. While we await the release, experts forecast a decline in the CPI data, a hint at weaker Dollar values in the global markets.

CAD Might Weaken Ahead of the Macklem's Speech
CAD Might Weaken Ahead of the Macklem's Speech

Later today Tiff Macklem, the governor of the BoC (Bank of Canada) is expected to speak at the Riksbank's International Symposium as part of a discussion panel on 'Central Bank Independence'.

Latest news

Will USDJPY slide lower in 2023?
Will USDJPY slide lower in 2023?

Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?

BoC Rates Could Alter The Trend on USDCAD and others
BoC Rates Could Alter The Trend on USDCAD and others

Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.

MSFT faces gloomy forecasts ahead of earnings report
MSFT faces gloomy forecasts ahead of earnings report

In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera