With every slowing economy comes the surge in credit cards charge-offs and MA is one of the most richly valued companies which I have looked at. Price action has been knocking around a bearish expanding triangle and held in check by the 240M 200-periods moving average with a negative MACD divergence. Not sure if I am early to the punch but downside potential is around the $1600 region which implies -c.17% downside.
Why is MA up on a large miss for earnings? Fed reversal?
WellTrainedMonkey
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@truthreveller, MA gave better than expected guidance for 2019 which is a rare event this earnings season. Nevertheless, that gave the stock a bit of a pop. For now, it does appear I am too early to the party as this rally continues to gather legs.
truthreveller
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@WellTrainedMonkey, I am assuming the price is being driven by buy backs that are pumping the stock. Its almost back to all time highs, I would think even a slight pull back would happen.