Mastercard (MA) NewsBite - MA Downgraded By Deutsche Securities

Friday, October 10, 2008 2:07 PM EDT

Mastercard (MA) was downgraded today by analysts at Deutsche Securities and the stock is now at $144.57, down $11.13 (-7.15%) on volume of 4,070,499 shares traded. The brokerage dropped its rating of MA to "Hold" from "Buy." Over the last 52 weeks the stock has ranged from a low of $143.15 to a high of $320.30. Mastercard stock has been showing support around $143.79 and resistance in the $178.09 range. Technical indicators for the stock are neutral and S&P gives MA a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on MA the stock seems like it could be a candidate for an October out-of-the-money bear-call credit spread above the 160 range. [ABR-Seven Summits Strategic Investments NewsBite]

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