Marriott International turns early gains into losses - Analysis - 03-08-2022

Marriott International's stock (MAR) declined in a volatile session after the hotel company beat forecasts for second quarter results, marking a loss of 0.83%, or 1.33 points, and settling at 158.24, with trading volumes surpassing 3.1 million shares, above 10-day averages of 2.1 million shares.

The stock is boosted by piercing the downward correctional short-term trend line, while trading above the 50-day SMA, and gathering momentum, as it also vents off overbought saturation from the RSI.

Therefore we expect the stock to rise and target the first resistance at 171.70, provided the support of 150.77 holds on.

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Expected trend for today: Bullish