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Shorting $MA At Double Top On Stock Chart

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This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

Shares of Mastercard Inc (NYSE:MA) are hitting a technical double top on the stock chart. I am shorting it at $111.00 and looking for a drop to $100 in the next few weeks. There should be significant resistance here. One of the keys to this short trade is the drop that Mastercard has when it reported earnings that did not meet Wall Streets expectations just a few a weeks ago. The slow float up has been small investors buying the hype of the market while institutions sell. Ultimately, there will be significant downside once average investor buying dries up. This is a classic technical analysis trade setup.

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Stock chart technical analysis short trade on Mastercard Inc


This article was written by Markus Teller for on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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