From Severing Ties With Binance To Achieving Unprecedented Peaks - The Remarkable Journey Of Mastercard's Record Highs

• Mastercard has severed its partnership with Binance, reflecting a broader trend of traditional financial institutions becoming increasingly cautious about affiliating with cryptocurrency exchanges due to regulatory concerns.
• Both Mastercard and Visa have announced plans to increase merchant fees for accepting their credit cards.
• Mastercard's stock recently reached an all-time high of $417.

Mastercard Inc MA recently ended its partnership with Binance. The termination reflects the cautious approach taken by traditional financial institutions towards the crypto industry.

Global regulators are implementing stricter compliance measures for cryptocurrency exchanges, posing greater risks for established entities like Mastercard to collaborate with platforms operating within an evolving regulatory environment.

Mastercard and Visa Inc V are raising fees for merchants accepting their credit cards. The fee hikes, set to start in October and April, primarily impact online transactions.

Although merchants will be directly affected, it is likely that consumers will ultimately shoulder the burden of these increased costs.

Mastercard's stock performance showcases remarkable resilience and growth, overcoming the challenges of navigating partnerships and regulatory environments.

On Wednesday, the stock soared to an all-time high of $417, presenting a significant milestone in its exceptional financial journey.

The company's stock has experienced extraordinary growth since its initial public offering in May 2006.

It started at a humble $4 and skyrocketed to $401 by April 2021, marking a remarkable 9925% surge. Nevertheless, this impressive journey has not been devoid of obstacles.

After April 2021, the stock faced resistance around the significant $400 psychological level and entered a consolidation phase with $276 as its support level.

This pattern lasted over two years, with the stock fluctuating between these price points.

In July 2023, there was a false breakout, but the stock promptly returned to its consolidation zone. However, a genuine breakout occurred in August, and the stock has been steadily rising ever since.

Technical analysts believe that when a stock price consolidates for a long period, a breakout can lead to a significant move.

If this theory is true, Mastercard's recent breakout could indicate the start of a bullish trend, possibly resulting in another 9000% increase.

The candle opened with a gap up on the day the stock reached its record high and started 0.75% higher than the previous day's closing price.

Yet, it ended the day with a bearish candle, suggesting a possible correction that could lead to a decline in the stock's value to its support level at $400 before continuing its uptrend.

Although these corrections may cause fear and discourage new investors, experienced investors often see them as chances to buy and take advantage of temporary price drops to enhance their holdings.

After the closing bell on Wednesday, August 30, the stock closed at $413.91, trading up by 0.55%.