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

Economies.com
1 year ago

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.

 

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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

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