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Watch for Shares of Mattel Inc (MAT) to Approach Support at $14.04

By David Diaz

Mattel Inc (NASDAQ:MAT) has opened bearishly below the pivot of $14.65 today and has reached the first level of support at $14.26. Investors may be interested in a cross of the next downside pivot targets of $14.04 and $13.43.

There is potential upside of 23.1% for shares of Mattel Inc based on a current price of $14.11 and an average consensus analyst price target of $17.36. Mattel Inc shares should first meet resistance at the 200-day moving average (MA) of $26.90 and find additional resistance at the 50-day MA of $32.60.

Mattel Inc share prices have moved between a 52-week high of $123.45 and a 52-week low of $12.71 and are now trading 11% above that low price at $14.11 per share. 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 Inc on December 6th, 2017 by issuing a Downtrend alert when the shares were trading at $15.51. Since that call, shares of Mattel Inc have fallen 6.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts mattel inc

Ticker(s): MAT