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  1. Home
  2. / Investing

Mattel Is Nothing to Play Around With

The maker of Barbie and HotWheels was downgraded by TheStreet's quantitative service. Let's check the charts.
By BRUCE KAMICH
Mar 02, 2023 | 01:22 PM EST
Stocks quotes in this article: MAT

Shares of the maker of Barbie and HotWheels and other brands, Mattel Inc. ( MAT)  was downgraded by TheStreet's quantitative service Thursday. Let's check out the charts and indicators. 
 
In this daily bar chart of MAT, below, I see a bearish picture. Prices have been in a longer-term downward path. A rally in January was short-lived as prices gapped lower in early February and have continued lower. MAT trades below the cresting 50-day moving average line and below the declining 200-day line. The On-Balance-Volume (OBV) line has made a weak response from its December low. The Moving Average Convergence Divergence (MACD) oscillator is bearish. 
 
 
In this weekly Japanese candlestick chart of MAT, below, I can imagine I am looking at a large rounded top formation. Prices trade below the declining 40-week moving average line. The weekly OBV line shows weakness from August. The MACD oscillator is below the zero-line and poised to cross to the downside for a fresh outright sell signal. 
 
 
In this daily Point and Figure chart of MAT, below, I can see a potential downside price target in the $16-$15 area. 
 
 
 
In this weekly Point and Figure chart of MAT, below, I can see the same potential downside price target in the $16-$15 area. 
 
 
 
Bottom line strategy: Barbie is not looking happy. Avoid the long side of MAT for now. 
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TAGS: Technical Analysis | Quant Ratings | Consumer Discretionary | Investing

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