Our stock screener has detected a potential breakout setup on MATTEL INC (NASDAQ:MAT). This breakout pattern is observed when a stock consolidates following a strong upward movement. It's important to note that this pattern is based on technical analysis, and the actual breakout outcome is uncertain. However, it might be worth keeping an eye on NASDAQ:MAT.
Technical analysis of NASDAQ:MAT
ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.
Overall MAT gets a technical rating of 7 out of 10. Both in the recent history as in the last year, MAT has proven to be a steady performer, scoring decent points in every aspect analyzed.
- The long and short term trends are both positive. This is looking good!
- Looking at the yearly performance, MAT did better than 84% of all other stocks.
- MAT is part of the Leisure Products industry. There are 33 other stocks in this industry. MAT outperforms 87% of them.
- MAT is currently trading near its 52 week high, which is a good sign. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so MAT is leading the market.
- In the last month MAT has a been trading in the 20.96 - 22.38 range, which is quite wide. It is currently trading near the high of this range.
Our latest full technical report of MAT contains the most current technical analsysis.
How does the Setup look for NASDAQ:MAT
Alongside the Technical Rating, ChartMill assigns a Setup Rating to evaluate the consolidation level of a stock. This rating, ranging from 0 to 10, is updated daily and considers various short-term technical indicators. The current setup rating for NASDAQ:MAT is 9:
Besides having an excellent technical rating, MAT also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 22.08. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 21.63, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
How to trade NASDAQ:MAT?
To potentially initiate a trade, it is common practice to wait for the stock to break out of the consolidation zone. This breakout signifies a potential upward movement, and traders may enter the stock at that point. Conversely, if the stock falls back below the consolidation zone, it may be sold at a loss.
Of course, there are many ways to trade or not trade NASDAQ:MAT and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.
Our Breakout screener lists more breakout setups and is updated daily.
Keep in mind
Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.
