Visa and Mastercard Are Bucking The Trend

Visa Inc. (NYSE:V) and Mastercard Inc. (NYSE:MA) are the leading credit card transaction and processing companies in the market. These two stocks are trading higher this morning.

Visa is trading higher on the session by 0.90 cents to $72.30 a share. Visa stock will have intra-day resistance around the $72.60 level. Should the stock rally further today the next important resistance area for the stock will be around the $73.50 area. Traders can watch for small pullbacks at both levels.

Mastercard is trading higher by $3.19 to $246.75 a share. Mastercard stock looks to have intra-day resistance around the $247.00 area and more around $248.10. Both levels could see pullbacks.

Traders will have to listen to the news closely from the Federal Reserve regarding credit card fees that are are charged when consumers swipe their cards when making a purchase. This debate is on going by the banks.

About Nicholas Santiago 576 Articles

Affiliation: InTheMoneyStocks.com

Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

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