Thursday, January 31, 2008
Mastercard's Bullish Reversal
MA (Mastercard) has been on my bearish short watchlist every since it broke down below the 50 day moving average on heavy volume. However, the stock's technical pattern made a 180 degree reversal in one day, with today's 28 point gain that easily put it back over the moving average and close to making a 50 day high. I'd like to see a bit of consolidation to digest today's gains and enter on a low volume pullback or breakout to new highs.