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.
Today’s stock forecast: Bullish.
The price of (silver) witnessed fluctuated trading on its last intraday levels, amid the attempts of gaining bullish momentum that might help it to breach the key resistance level at $49.45, attempting to offload some of its overbought conditions on the relative strength indicators, especially with the emergence of the negative signals, affected by breaching bearish corrective trend line on the short-term basis, taking advantage of its trading above EMA50, which provides renewed bullish momentum.
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The price of (gold) declined in its last intraday trading, amid the continuation of the negative pressure due to its trading below EMA50, reinforcing the stability of the bearish corrective trend on the short-term basis, besides the emergence of the negative signals on the relative strength indicators, after reaching overbought levels.
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The price of (EURUSD) settled lower with calm trading on its last intraday levels, due to the stability of the critical support at 1.1550, with the beginning of the positive signals on the relative strength indicators, after reaching oversold levels, attempting to offload some of the oversold conditions, amid the continuation of the negative pressure and the dynamic resistance that is represented by its trading below EMA50, under the dominance of the main bearish trend on the short-term basis and its trading alongside trendline.
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