Mattel’s stock price (MAT) rose in the intraday levels while trying to recoup some recent losses, as it trades alongside the downward short-term trend line, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI after reaching overbought levels.

Therefore we expect the stock to return lower, targeting the support of $17.00, provided the resistance of $19.30 holds on.

Trend forecast: Likely Bearish