Technical Insights for MATTEL INC (NASDAQ:MAT): Is a Breakout Imminent?

Our stock screener has flagged MATTEL INC (NASDAQ:MAT) as a potential breakout candidate. This occurs when the stock shows signs of consolidation after a notable upward trend. While we can't predict the actual breakout, it's worth monitoring NASDAQ:MAT for potential movement.

In-Depth Technical Analysis of NASDAQ:MAT

At ChartMill, a crucial aspect of their analysis is the assignment of a Technical Rating to each stock. This rating, ranging from 0 to 10, is calculated daily by considering numerous technical indicators and properties.

Taking everything into account, MAT scores 7 out of 10 in our technical rating. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.

• The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
• MAT is part of the Leisure Products industry. There are 30 other stocks in this industry. MAT outperforms 86% of them.
• MAT is currently trading in the upper part of its 52 week range. The market is still in the middle of its 52 week range, so MAT slightly outperforms the market at the moment.
• Looking at the yearly performance, MAT did better than 80% of all other stocks. However, this relatively good performance is mostly due to a recent big move.
• In the last month MAT has a been trading in the 20.11 - 22.07 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Check the latest full technical report of MAT for a complete technical analysis.

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 level of consolidation in the stock based on multiple short-term technical indicators. Currently, NASDAQ:MAT has a 7 as its setup rating, indicating its current consolidation status.

Besides having an excellent technical rating, MAT also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 21.94. Right above this resistance zone may be a good entry point.

Trading breakout setups.

One strategy to consider is waiting for the actual breakout to occur, where the stock breaks out above the current consolidation zone. Traders can then enter a buy position, anticipating further upward momentum. As a risk management measure, it is advisable to set a stop loss order below the consolidation zone.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

Our Breakout screener lists more breakout setups and is updated daily.

Disclaimer

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.