Mattel (MAT) stock advanced slightly in its latest intraday trading, while remaining under pressure after breaking a short-term ascending correction trendline. The stock continues to trade below the 50-day SMA, with additional negative pressure from Stochastic signals, despite the indicator reaching deeply oversold levels.

Therefore we expect the stock to decline in upcoming trading as long as it remains below the $20.30 level, targeting the support level of $18.60.

Todays price forecast: Bearish