While reviewing some charts this morning, several things popped out at when looking at the Daily chart of $MA. I thought I would do a post showing a few perspectives and why I think they are bullish. Here is one view of the Daily chart of $MA:
The most recent test of the 50 Simple Moving Average held well, and price has avoided a test of this moving average in the month of November – I view this as quite bullish when it avoids a test while price is in the vicinity of the moving average. Also note where the rising Trend Line is below, drifting up through the $440 level.
Now let’s take a view at this Daily chart with a different perspective:
I have inserted a horizontal support line showing the Breakout level from early September and the 2 back-tests that have occurred. It has held the breakout well considering the recent overall market performance.