Mattel, Inc. : Still a downward potential
By Etienne Veber
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
US$34.84 | US$34.6 | US$35.4 | +0.67% |
Profit for 2014 and 2015 was regularly revised downward by analysts covering the stock.
The security follows a downward trend in all time scale. The selling pressure is still present on the stock that has broken an important weekly support at USD 35.15. Below this level, we expect a continuation toward the long term support currently at USD 31.25.
Thanks to the technical pattern and Mattel’s weak fundamentals, active investors can take a short position below USD 34.7. The downside potential fix a target at USD 31.25. However, a bullish trend would regain the upper hand if the security crosses USD 35.3.