Mattel Stock: Why Analysts Are Bullish on the Toy Maker - New Target Price 34
Mattel Stock price has been moving up since couple of weeks and we have also read the below mentioned points over the web during recent times about this stock as :
- Mattel (NASDAQ: MAT) reported strong second quarter results, beating earnings and revenue expectations.
- The company’s iconic brands, such as Barbie, Hot Wheels, and Fisher-Price, drove growth and market share gains.
- Mattel also benefited from its digital transformation, e-commerce expansion, and cost-cutting initiatives.
- Analysts from DA Davidson, BofA Securities, and others have maintained or raised their buy ratings and price targets for Mattel, citing its positive outlook and competitive advantages.
- Mattel’s technical analysis shows a bullish trend, with the stock trading above its moving averages and oscillators indicating a buy signal.
But here we are going to discuss in completely Technical Analysis way as what we can observe with the Price Chart considering the famous say that “Stock Price contains all the available market news along with insider information”.
What has Mattel Stock been doing?
As per below mentioned chart, it may be discerned that the Stock is actually not outperforming broader Index (in this case overall rise in NASDAQ) as per Monthly Chart:
and we can easily say that this Mattel Stock has not been a very good performer as Relative Strength Indicator as compared to NASDAQ is in Negative Territory (-0.0306_ as recent Price Action also shows Wicks on both the sides of CandleSticks which makes us confuse as what is going to happen. Let’s check what is happening in Weekly timeframe.
What is Mattel Stock doing these days?
As we can discern from the below mentioned chart that Mattel Stock was still underperforming broader Index as overall RS Indicator was in Negative Territory (-0.2071) and Price is also trying to go up but is still coming down as there is no Major Support from Volume whenever any Up Days are there
What do we observe finally in Mattel Stock?
As per the latest observation on 6th August 2023, we must wait for the major hurdle of 26.38 to be crossed on Closing basis in Weekly timeframe and if it does with a handsome support from Volume Indicator along with a situation where it is Outperforming NASDAQ returns as per RS Indicator then we do not observe any major stop till 34.00.
Note – This is not any Buying / Selling recommendation and please do your own research before putting your hard-earned money in any stock or consult your financial advisor. This blog was purely written for Educational Understanding of Technical Analysis.
