• Return to Headlines

SmarTrend Watching for Potential Rebound in Shares of Mattel After 1.98% Loss

By Nick Russo

Mattel (NYSE:MAT) traded in a range yesterday that spanned from a low of $20.20 to a high of $20.70. Yesterday, the shares fell 2.0%, which took the trading range below the 3-day low of $20.29 on volume of 3.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Mattel has traded in a range of $19.45 to $34.76 and is now at $20.28, 4% above that low. Over the past week, 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 21.6%. 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