Mastercard Inc (US: MA) corrective rangebound move has come to a halt. Technicals indicate that Mastercard is undergoing a reversal pattern near the bottom of the range:

1. The potential triple bottom continues to stay elevated above the US$330.00 psychological support after breaking out of the previous falling wedge. The resistance zone of the triple bottom at US$361=US$366 was tested multiple times and thus weakened in the process.
2. Last Friday’s bullish candle gaps up above the Tenkan-sen and Kijun-sen crosses were confirmed by yesterday’s bullish candle. A further sign of bullish momentum ahead.
3. Ichimoku shows an initial bullish signal after the Tenkan-Sen and Kijun-Sen crosses last Friday and the lagging span broke above the candles yesterday.

*Expected timeline of the trade is 15 weeks from the date of report issuance.

CHART LEGEND

Ichimoku Kinko Hyo

Red dotted line = 26 periods Kijun-Sen

Blue dotted line = 9 Periods Tenkan-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Black line = 26 periods Chikou Span. Lagging line