Mastercard Chart Breakout Nearing, But First Wait For This Before You Buy

Mastercard Inc (NYSE:MA) is hammering on a trend line that stretches back to November 2015. The stock chart has hammered on this trend line five times now and is likely nearing a breakout. While upside is likely, make sure you do not buy it now. At a current price of $96.88, the stock has already climbed ten straight Dollars in the last month. There have been no pull backs during this period. This means the stock will likely pause, then have a small pull back. A smart investor will wait for that pull back then buy.

Game Plan

Look for a pull back from $96.88 to $93.75. At this point the buy signal will trigger and a swing trade buy can be initiated. The upside target becomes $101.50. If a buy is initiated at $93.75, the percentage gain to target will be 8.2% gain, likely in a month or less.