Mattel (MAT) led the market from early October to early February with a 65 percent advance and then moved into a large consolidation the last six months. More recently, the stock surged off support in late June and then formed a smaller consolidation near resistance. Notice that the stock advanced with good volume on Monday and this could foreshadow a breakout. The lower indicator window shows the Accumulation Distribution Line moving higher during the larger consolidation. This suggests buying pressure within the consolidation and increases the chances of an upside breakout.
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Thanks for tuning in and have a great day!
--Arthur Hill CMT
Plan your Trade and Trade your Plan
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