Mastercard 5 waves up complete? an UPDATE
06/30/2017 – bumped into purple (dashed) trend line w/ a monthly doji. Pause/indecision. Expect some consolidation and pullback but do think the upper target will still be targeted …
04/29/2017 – the levels shown in the post below held but created a 6-8 month triangle which exploded higher. Triangles are terminal from where they explode (higher or lower) but this stock is really strong. Do I think we are still in a 5th wave – YES. But, I would keep rolling w/ this until the lower purple trend line is broken on a weekly close …this is a VERY powerful stock.
thanks for asking .. I did this post for a colleague but more importantly a trusted friend.
MasterCard – what a great business model. you swipe the card and they get paid ..nice.
that being said, sure looks like 5 waves complete w/ monster bearish divergence. note the blue median line. price has not closed below that on a monthly basis, if we do get that close, then this could accelerate to the downside.
also, thru some geometry on there … when using arcs, the 3 o’clock position is a time component and the top of the circle is price. see how the “time” component nailed the low? that gives you a heads up that the price (top of the circle) should be stiff resistance.