Each week, I’ll give an overview of a stock and Licia Leslie will follow that up with a chart analysis the next day. Bill Griffo will chime in with macro analysis and Andrew Giovinazzi will then finish out the week with a volatility breakdown.

Have a stock YOU want us to review? Email my team here. – Mark

Hey Traders,

Nowadays we all use our charge cards for everything.

Even the cheapest dollar amount we throw on our card.

Who carries cash anymore?

If you don’t  go to your bank physically, or use your own bank’s ATM, you are paying to get your own cash.

So we hoard our cash and put everything on our cards.

Plus we get points or dollars for the amount of money we charge.

I used to use the airline points charge card. 

Now I use the Costco card and get a check every year.

My biggest check was over $800.

Pretty nice to get a check like that.

And you don’t have to spend it at Costco.

Anyway, we are analyzing Mastercard (Ticker: MA) this week.

Here is my pitchfork of MA chart going back to October of 2020:

MA follows the pitchfork pretty well showing the sideways movement of the stock.

You can add this to your chart using the high of Feb 19, 2020, the low of Oct 29, 2020, and the high of Apr 28, 2021.

It is a trading range but the range is $304-$390.

There’s a lot of money that can be made in that trading range.

MA is currently $378 looking like it is heading to that high resistance at $390.

Once it hits there, watch for a rollover and the pullback.

This is where your change in trend candles come in handy.

Trade accordingly.

Thanks for Reading … See You Next Tuesday,

Licia Leslie