Mattel Bulls in Charge

Published on Tuesday, 07 February 2012 11:34 Written by TradersHuddle Wire

New York, February 7th (TradersHuddle.com) - Shares of Mattel, Inc. (NASDAQ:MAT) booked a new 52 week high today by trading above $31.76, traders are definitely monitoring Mattel's price action to see if this move attracts further buying into the stock.

Mattel, Inc. (NASDAQ:MAT) designs, manufactures, and markets a broad variety of children's toys on a worldwide basis. The company offers its products under various brands, including Barbie, Little Mommy, Disney Classics, Hot Wheels, CARS, Toy Story, Fisher-Price, Sesame Street, Dora the Explorer, Power Wheels, among others.

Mattel is currently trading 0% versus its previous trading session close, and it has calculated support and resistance at $27.13 and $31.69 respectively. Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range

The overall market index S&P 500 is trading higher by 0.13% from its previous trading close, which means that Mattel stock is underperforming the overall market.