Time to buy MA back

[englishman26]

Must confess that this was a tip off a technical trader that was just on CNBC - but I hadn't looked at this for a couple of weeks and I totally agree with what she said. It has pulled back nicely, right to it's 200MA which is it's long term uptrend.

On a fundamental reminder -this is not a play on the economy as it's just about a growth of the use of plastic versus cash world wide (mostly not in the US). And MA have no credit risk.

Target is $320 at some point in the next 3 months. (about 33% from here).

http://i36.tinypic.com/sdiw78.png

[balkanboy]

Gonna have to agree with my man Englishman on this one! :top:

Wish I scooped more up below $230. Oh well...hitting $320 will still yield me some extra cash flow! :proud:

[TheChartGuru]

Visa has better technicals in my opinion. MA is flirting with the MA(200) and who is to stop it from breaking below it? Visa setting up to run above $83

The Guru

[gferrets]

I think it looks like a good buy as well. I got in last week at $227, as it was bouncing off it's 200 day moving average. It's held above it for the last 18 months, so I see no reason why it wont now. Even if it does drop below, it is an excellent long term hold. I'm looking for the short term run to 320+ though.

Mr. G ferrets

[englishman26]

Any opinions on MasterCard at these levels? I picked some up around 235 last week, but the market is looking ready to swing back down.

I don't know why you wrote this in the SKF/UYG thread since I posted about buying MA at the base last week - so I'm replying here.

It really has held up very well in the down days and does okay to average in the up days. It is basically trading independently of the market at the moment which is nice. And correct too. This is not really an economically sensitive play. It's really just a play on the growth of the use of plastic versus cash in developing economies.

[wallstreetsedge]

eh you do realize that your rsi has a downward tilt and your macd says the trend is downwards as well?

imo, the up move is a biased move as the stock has sold off so much over the past several weeks. i see it going to the 250 range to give short sellers another opportunity and ker-plunk!

[Techroid]

Out of all due respect, the technical indicators you presented for MA show sell. But you are suggesting it is a buy simply because of a percieved increased use of plastic vs cash in developing economies.

Really, this sounds like ignore the technicals and go with a hunch. Ultimately, this may not be a sound strategy. But then again, who knows?

[englishman26]

On the technicals - I was suggesting that it would turn around on the 200MA - simple as that. The MACD and RSI can easily reverse if this notion is correct.

I think the fundamentals are a bit more than a hunch!

But like you say, who knows! :wink:

[englishman26]

Touching that 200MA again today. I'll sell tomorrow if it breaks through and stays down tomorrow.