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 Inc.(NYSE:V) 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 Inc.(NYSE:MA) 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.