When it comes a stock hitting a 52-week high, I prefer to look for ones hitting a "new" high. In my view, that would be a stock that hasn't hit a new 52-week high in quite some time, and more importantly, I want the stock to have broken through a key area of resistance. This way I know that it wasn't just any move higher, it was an important breakout.
Marriott International, Inc. operates, franchises, and licenses hotels and corporate housing properties worldwide. The company operates and franchises hotels and resorts under various brands, including Marriott Hotels & Resorts, JW Marriott, Renaissance Hotels, Autograph Collection, Courtyard, Fairfield Inn & Suites, SpringHill Suites, Residence Inn, TownePlace Suites, The Ritz-Carlton, Bulgari Hotels & Resorts, and EDITION, as well as AC Hotels by Marriott. It also licenses the development, operation, marketing, and sale of vacation ownership properties under the Marriott Vacation Club, Grand Residences by Marriott, Ritz-Carlton Destination Club, and Ritz-Carlton Residences brands to the Marriott Vacations Worldwide Corporation. In addition, the company operates Marriott Executive Apartments that provide temporary housing for business executives; and Marriott conference centers. As of December 30, 2011, it operated, franchised, or licensed 3,718 lodging properties with 643,196 rooms that include 32 home and condominium products with 3,838 units, as well as provided 2,166 furnished corporate housing rental units. The company was founded in 1971 and is headquartered in Bethesda, Maryland.
To review Marrott's stock, please take a look at the 1-year chart of MAR (Marriott International, Inc.) below with my added notations:
After moving higher from October of last year, MAR has stalled since April while running into a $40 resistance (red). The $40 level is a clear resistance level that would signify an important 52-week high breakout if the stock could manage to break above it. IF that were to happen, the stock should probably be heading higher overall.
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