Mastercard: the rebound tests the downtrend

Week 23 of a sell signal on Mastercard, with the trade up 7.5% since inception. This week broke the pattern: after 3 sideways weeks, the stock closed up 1.9% with buyers controlling 73% of volume. On the daily chart, a double bottom in the 474 area with a 9% intermediate rebound — a strong technical pattern — has emerged and now puts pressure on the downtrend.