Mattel Booked a New High
Published on Tuesday, 14 August 2012 12:34 Written by TradersHuddle Wire
New York, August 14th (TradersHuddle.com) - Shares of Mattel, Inc. (NASDAQ:MAT) booked a new 52 week high today by trading above $35.69, 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 0.39% versus its previous trading session close, and it has calculated support and resistance at $30.74 and $34.68 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 0.29% from its previous trading close, which means that Mattel stock is outperforming the overall market.
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