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Mattel Set to Possibly Rebound After Yesterday's Selloff of 1.13%

By James Quinn

Mattel (NYSE:MAT) traded in a range yesterday that spanned from a low of $21.83 to a high of $22.21. Yesterday, the shares fell 1.1%, which took the trading range below the 3-day low of $21.92 on volume of 2.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Mattel have traded between a low of $19.45 and a high of $34.76 and are now at $21.84, which is 12% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has declined 0.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Mattel on January 27th, 2017 by issuing a Downtrend alert when the shares were trading at $26.42. Since that call, shares of Mattel have fallen 16.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders mattel

Ticker(s): MAT