Mastercard (NYSE: MA) NewsBite - MA Continues To Move Higher And Hits New High Following Q3 Earnings

Posted: Friday, November 06, 2009 2:25 PM EDT

Mastercard (NYSE: MA) hit a new 52-Week high of $234.00 so far today. Currently the stock is up $2.97 (1.29%) to $233.22 on 1,296,491 shares traded. Today's high is up $120.17 from a 52-Week Low of $113.05. Mastercard stock has been showing support around $222.63 and resistance in the $234.07 range. Technical indicators for the stock are bullish and S&P gives MA a positive 4 STARS (out of 5) buy ranking. The stock rose to a new 52 week high today as investors continue to buy the stock following strong third quarter earnings on Tuesday. Analysts had been expecting to see the company show Q3 earnings of $2.94 and the company surprised to the upside with a reported $3.48 for the quarter. If you are looking for a hedged play on MA the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 175 range. [ABR-Seven Summits Strategic Investments NewsBite]

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