Post-Earnings Stock Charts: Mattel (MAT)
Click to Enlarge Apparently, it’s not all fun and games at toymaker Mattel (MAT). The company reported lower sales and a disappointing loss of 3 cents per share, coming in well below expectations for a positive 9 cents per share. Mattel cited a “challenging” retail environment for the setback.
Not surprisingly, MAT’s stock charts also indicate a challenging course ahead for the intermediate term (six weeks to nine months).
At the April 17 close, a bearish descending continuation triangle appeared on MAT’s chart, signaling a downward course for the next several weeks.
MAT’s descending continuation triangle put a downside target for the stock at $33.40 to $34.20, which is expected to resolve in approximately 25 trading days. A move to these targets represents share prices that are 9% to 10% lower than current levels.