The question on everyone's mind: Will MATTEL INC breakout?

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.

What is the technical picture of NASDAQ:MAT telling us.

Every day, ChartMill assigns a Technical Rating to each stock, providing a score ranging from 0 to 10. This rating is determined by evaluating various technical indicators and properties.

Taking everything into account, MAT scores 8 out of 10 in our technical rating. Although MAT is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

• The long and short term trends are both positive. This is looking good!
• MAT is part of the Leisure Products industry. There are 32 other stocks in this industry. MAT outperforms 77% of them.
• In the last month MAT has a been trading in the 20.30 - 21.84 range, which is quite wide. It is currently trading near the high of this range.
• Prices have been consolidating recently, this may present a good entry opportunity.
• When comparing the yearly performance of all stocks, we notice that MAT is one of the better performing stocks in the market, outperforming 75% of all stocks. However, this overall performance is mostly based on the strong move around 10 months ago.
• MAT is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so MAT is lagging the market slightly.

Our latest full technical report of MAT contains the most current technical analsysis.

How does the Setup look for NASDAQ:MAT

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the extent of consolidation in the stock based on multiple short-term technical indicators. Currently, NASDAQ:MAT has a 9 as its setup rating:

Besides having an excellent technical rating, MAT also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 21.60. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 21.25, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

How can NASDAQ:MAT be traded?

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

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 technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

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.