After Yesterday's Rally of 1.27% Shares Could Potentially Pullback
Mattel (NYSE:MAT) traded in a range yesterday that spanned from a low of $30.13 to a high of $30.54. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $30.25 on volume of 1.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Over the past year, Mattel has traded in a range of $19.45 to $34.76 and is now at $30.27, 56% above that low. The 200-day and 50-day moving averages have moved 0.49% higher and 0.32% lower over the past week, respectively.
SmarTrend recommended that its subscribers protect gains by selling shares of Mattel on September 14th, 2016 by issuing a Downtrend alert when the shares were trading at $31.38. Since that call, shares of Mattel have fallen 4.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: rebounders mattel