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July 10 Chart of the Day - Mattel

One of the hottest stocks during the past month or so has been Mattel (MAT).  Largely in part due to the anticipated "Barbie" movie scheduled to hit theaters on July 21 and the hype around the company's branding efforts in support of it.

Investors have been crowing about per share increase from $15.37 to its recent $21.10 high since March 2023.

That may not sound like a lot, but percentage wise this stock has outpaced Hasbro, Meta, Apple, and Nvidia the past month alone.

From a price action technical analysis perspective this all looks like typical price cycles whereby price cycles up, and cycles down.  Across all time frames.

If price continues on its upward trend it could meet some overhead resistance in the $23 area.  However, if the movie flops at the box office and price "takes a hit" it could fall all the way down to the $14 area and still appear to look like a normal cycle...

So what's next?

Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.

  1. Support/Resistance
  2. Trend
  3. Fibonacci 
  4. Supply/Demand Zones,
  5. Change Control Zones

Take a look at the charts and let us know what you think.  

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