More Upside for Mattel ?

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More Upside for Mattel ?

Published on Tuesday, 14 February 2012 11:34 Written by TradersHuddle Wire

mat New York, February 14th (TradersHuddle.com) - Shares of Mattel, Inc. (NASDAQ:MAT) booked a new 52 week high today by trading above $32.23, 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 -0.15% versus its previous trading session close, and it has calculated support and resistance at $27.13 and $32.23 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 lower by -0.4% from its previous trading close, which means that Mattel stock is outperforming the overall market.

Note - Automated Content Created By TradersHuddle's Technical Scanner

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