Friday, January 05, 2007

Trade Ideas: MA

The wide range bars from yesterday disguised the true extent of Thursday's buying. It was another day of heavy volume (but below that of yesterday). The Trade Ideas scan was a little slow for the day that it was with 8 picks covering a time span of 16 minutes.

Clearing the 20 appearance barrier were Mastercard (MA) and Kroger (KR) at 27 and 24 appearances a piece.

Mastercard (MA) has experienced a lovely uptrend since its IPO. The stock looks to be in the process of shaping a bullish ascending triangle with an upcoming 'buy' trigger in the MACD. Volume could have been a little better - but this should increase on a push above $105.61. Sell loss of triangle support. Thursday ranked as a triple top breakout on the point-n-figure chart with a price target of $109.

MasterCard Incorporated operates as a payment solutions company. It provides transaction processing and related services to customers principally in support of their credit, deposit access, electronic cash and automated teller machine payment card programs, and travelers’ cheque programs. The company manages a family of payment card brands, including MasterCard, MasterCard Electronic, Maestro, and Cirrus, which it licenses to these financial institutions. As of December 31, 2005, MasterCard Incorporated served approximately 25,000 financial institutions worldwide. The company was founded in 1966 and is headquartered in Purchase, New York.

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