MAT - Mattel, Inc. $18.55 +0.45 (+0.09)
Mattel hit an all-time high of $46.56 on 3/16/98. The stock then
sold off the subsequent two years, hitting a low of $8.93 on
3/10/00. Since then, MAT has made significant changes, which have
made a world of difference. The company has hired a new CEO and
absorbed the cost of its poor acquisition of The Learning
Company. Over the past year, MAT's net income from continuing
operations has increase 63 percent while its stock price has
appreciated 90 percent. MAT traded to a 52-week high of $18.84
last week, and on Thursday, the stock closed at its intra-day
high of $18.55. We believe that MAT could continue to climb
higher due to its strong momentum and improving fundamentals.
From a technical standpoint, support is the 5-dma at $18.34 with
stronger support at $17.78, the 10-dma. Resistance is the 52-week
high of $18.84 and then possibly $19.50 or $20. Traders may
consider entry points on a bounce off of $18.34 or a breakout
above $18.84 on volume greater than 1.2 million shares by noon.
We are placing stops at $17 as downside protection.
Picked on March 15th @ $18.55
Change since picked +0.00
Stop Loss @ $17.00
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