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MAT finds support at 100-day moving average


Technical Analysis Report for MAT - May 17, 2018 [1 min read]
Highlights
MAT finds support at 100-day moving average
MAT finds buyers again around 15.02
MAT closes within previous day's range after lackluster session
TQ Sentiment
Technical Forecast:
Overview

MAT finished Thursday at 15.28 losing $0.20 (-1.29%). Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session.

Daily chart for MAT
Volatility

Thursday's trading range was $0.46 (2.98%), that's below last trading month's daily average range of $0.70. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Price Action

During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar. After moving higher in the prior session, the share closed lower but above the previous day's open today, forming a bearish Harami Candle.

Support/Resistance

Prices are trading close to a key support level at 14.90. Prices are trading close to the key resistance level at 15.51. After having been unable to move lower than 14.95 in the prior session, the market found buyers again around the same price level today at 15.02. After trading as low as 15.02 during the day, the stock found support at the 100-day moving average at 15.08.

Trend

Although Mattel Inc. is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.

Order Flow

Buying could speed up should prices move above the nearby swing high at 15.51 where further buy stops might get activated.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being very bullish.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Bullish Bounce off SMA 100 TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bearish Harami Candle TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

MAT finds buyers at key support level

May 18, 2018
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