MasterCard Drops After Losing EU Case, Watch This Level

This morning, the leading credit card services company MasterCard Inc (NYSE:MA) is trading lower by $1.12 to $75.53 a share. The stock is selling off after losing a decade long fight over cross-border card fees in Europe's highest court. Swing traders should note that the stock is now trading below its important 50-day moving average. While this chart formation is generally negative for the stock in the near term there will be chart support around the $74.50 level. Swing traders should look for a bounce in MasterCard Inc's stock around that area. This was a level that was defended in early August 2014 so this is where the institutional money will generally defend the stock again.



Nick Santiago
InTheMoneyStocks.com