Friday night during his Mad Money program Jim Cramer told his viewers that Thursday brings earnings from three more Cramer favorites, MasterCard (MA) , Amazon (AMZN) and Twilio (TWLO) .
Let's check out the charts of MasterCard.
In the daily bar chart of MA, below, we can see that the shares have been in an uptrend the past 12 months. From time to time there have been corrections or pullbacks. Some of these pullbacks have declined to test the rising 200-day moving average line.
The daily On-Balance-Volume (OBV) line has turned higher from early June and is close to making a new high. The Moving Average Convergence Divergence (MACD) oscillator is in a bullish alignment above the zero line.
In this weekly Japanese candlestick chart of MA, below, we see a bullish picture. Prices are in an uptrend above the rising 40-week moving average line. The latest candle shows a new high close. The weekly OBV line has been edging higher from April 2020. The MACD oscillator is crossing to the upside for a fresh buy signal.
In this daily Point and Figure chart of MA, below, we can see a nearby price target of around $409.
In this weekly Point and Figure chart of MA, below, we used close only price data and here the software projects a price target around $508.
Bottom-line strategy: In our last review of MA way back on Jan. 20 we saw a sideways market trend. Now the charts are pointing to an upside breakout. Traders could probe the long side rising to $360. Our first price target is $409.
