Mattel (MAT) stock declined in its latest intraday trading after stabilizing at the current resistance level of $19.23, as it attempts to gain positive momentum that could help it break through that resistance. At the same time, the stock is working off part of its overbought levels on the relative strength indicators, where negative signals have begun to appear. The short-term corrective bullish trend remains dominant, with trading along an ascending line that supports this direction, while continued positive pressure from trading above the 50-day SMA enhances the chances of a near-term recovery.

Therefore, we expect the stock to rise in its upcoming trading sessions, especially if it breaks above the mentioned resistance level of $19.23, targeting the next resistance level at $20.60.

Todays stock forecast: Bullish.