Since the beginning of the year, Mattel, Inc. (NASDAQ:MAT) one of the largest manufacturers of toys has seen its stock price decline from the highs of $47.00, to a closing print this past Friday of $30.81. Mattel's recent earnings report was not well received by Wall Street. Over the past few days the decline accelerated after Mattel, Inc. (NASDAQ:MAT) lost...
1) Significant Double Top formed between 46.00 - 48.00 levels
2) Price has retraced back to Neckline and begin second impulse wave.
3) Price has broken 64 Month Uptrend Line and may transition within a projected down channel
The near term projected path of least resistance, will be for price to continue downwards.
It is also likely that the price will trade...
Bearish weekly shooting star candle near 48.30 major high, bearish divergence on Momentum and Money flow index, provide an attractive short in terms of reward to risk.
first target at 43.80 area, which is a confluence of the 50-days SMA a rising trend line and a horizontal support. On a break below this support look for major downside towards 39.90 next key...
