10.10.202214:22 Forex Analysis & Reviews: Technical analysis on MA stock price for October 10th, 2022.

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Red line -resistance

Green line- support (broken, now resistance)

MA stock price has broken below key horizontal support of $305 a couple weeks ago. The market bounced higher and so did the stock price of MasterCard. Price back tested the broken support trend line. Price made a back test of the breakdown area around $300-$305. The back test was a failure for bulls as price got rejected. Recent price action confirms the resistance at $300-$305. Previous support is now resistance. Bulls need to overcome this resistance area in order to hope for a bigger move higher towards the red trend line. As long as price is below the horizontal green line resistance we remain bearish.

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