Swing Trade Idea (MA) – July 20, 2022
Our bullish trade for Wednesday, July 20th is Mastercard Incorporated (MA). MA is part of the Technology sector, which has performed at 9.4% over the last month, with MA overperforming its sector at 10.23% over the same period.
MA recently bounced higher off long-term support at $315, with increasing strength, and in accordance with the overall sector. This provides a good risk/reward bullish entry.
As a close, if MA were to trade below $333 for multiple days, this would invalidate our analysis and focus cutting losses on the trade. We also consider cutting losses on this options trade if the value of the vertical spread moves below $3.88.
