Economies.com provides the latest technical analysis and forecast of the american stocks, in order to keep track of the trend of the US stocks.
Mattel’s stock price (MAT) rose in the intraday levels while trying to recoup some recent losses, as it trades alongside the downward short-term trend line, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI after reaching overbought levels.
Therefore we expect the stock to return lower, targeting the support of $17.00, provided the resistance of $19.30 holds on.
Trend forecast: Likely Bearish