Mattel receives positive support - Analysis - 08-06-2023

Mattel's stock (MAT) rose in the intraday levels, after leaning on the support of the 50-day SMA, while trading alongside the upward correctional trend line in the short term, lending the stock positive momentum, and marking a profit of 0.61% in the last session, or 11 cents, and settling at 18.25, amid positive signals from the RSI after reaching oversold levels. 

Therefore we expect more gains for the stock, targeting the resistance of 19.20, provided the support of 17.50 holds on.

Expected trend for today: Bullish