MasterCard (MA), together with its subsidiaries, provides transaction processing and other payment-related services in the U.S. and internationally. This stock closed up 1.7% to $83.30 in Wednesday's trading session.
Wednesday's Volume: 7.20 million
Three-Month Average Volume: 651,511
Volume % Change: 1048%
From a technical perspective, MA trended modestly higher here right above some near-term support at $81.40 with monster upside volume. This move is quickly pushing shares of MA within range of triggering a big breakout trade. That trade will hit if MA manages to take out Wednesday's high of $83.90 to its 52-week high at $84.75 with high volume.
Traders should now look for long-biased trades in MA as long as it's trending above some near-term support at $81.40 and then once it sustains a move or close above its those breakout levels with volume that hits near or above 651,511 shares. If that breakout triggers soon, then MA will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $90 to $95.