Stock of the day: Mastercard

Today’s stock of the day brings us the Mastercard, which will also publish earnings today! It will happen before the Market Open and the numbers expected are 2.58 EPS and the 5.8B in revenue. Worth noticing here is that Mastercard is beating every quarterly estimate since October 28th, 2020! Let’s see if this time, numbers will be also flashing green on the screen.

Technically, we are in bullish territory. In November, the price escaped from the channel down formation (blue). In January, Mastercard broke the horizontal resistance on the 364 USD (green), to use it as a support later. Now, the price is testing another resistance – 382 USD (orange), which is the high from April. In case of a good earning report, we may expect a breakout to the upside and an attack on the 400 USD resistance (red), so the highs from February.

Technical situation promotes the buyers, let’s see if the report will help to drive prices higher. In case of a miss, we can expect a drop toward the green support but even if that will happen, the main sentiment will remain bullish.