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Swing Trade Idea (MA) – August 26, 2022

Our bullish trade for Friday, August 26th is Mastercard Inc. (MA). MA is part of the Technology Sector, which has found support at a multi-month key level, with MA following suit.

MA has found support at a long-term key level of $340, and, as strength is increasing, has started to aim higher. With the next resistance at $360, we expect this bounce to continue to that level. This provides a good risk/reward bullish entry. 

As a close, if MA were to trade below $338 for multiple days, this would invalidate our analysis and makes us consider cutting losses on the trade. We will also consider cutting losses on this options trade if the value of the vertical spread moves below $4.30.