Marriott International, Inc. operates, franchises, and licenses
hotels and timeshare properties worldwide. It operates through three
segments: North American Full-Service, North American Limited-Service,
and International. The company also licenses the development, operation,
marketing, sale, and management of vacation ownership and related
products under the Marriott Vacation Club, Grand Residences by Marriott,
The Ritz-Carlton Destination Club, and The Ritz-Carlton Residences
brands to the Marriott Vacations Worldwide Corporation. In addition, it
operates, markets, and develops residential properties, as well as
operates and franchises hotels and resorts; and provides services to
home/condominium owner associations.
Take a look at the 1-year chart of Marriott (NASDAQ: MAR) below with my added notations:
MAR has formed a support level near $77.50 (green). In addition, the
stock is declining against a short-term, down trending resistance level
(red) over the past several of weeks. These two levels combined have MAR
stuck within a common chart pattern known as a descending triangle.
Eventually, the stock will have to break one of those levels.
The Tale of the Tape: MAR has a down trending
resistance and a $77.50 support level to watch. A long trade could be
made on a breakout through the resistance or on a pullback to $77.50. A
break below the $77.50 support would be an opportunity to enter a short
trade.
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