MAR broke out of a descending channel around Sep 10, and started a bull run toward resistance at 145.98 where it rejected and began to flag. It broke out of the flag on Sep 22 and proceeded to smash through resistance at 145.98 and 150.65. Price appears to be moving at the same angle as the initial move and it looks as though it may retest the ATH by Tuesday 9/28....
Price has been channeling down for quite some time, oversold and lately buyer volume increasing. Expecting some break out from the current formation. Dont forget your SL & TP :D
MAR is currently double bottomed on 1.382 fib extension support.
If the fib support holds and price bounce from here we can reasonably expect to see $149.
Good case - $140
Best case - $149
Stop loss - below $127
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- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will...
Crucial area for MAR.
Slight bullish MACD divergence forming with bullish cross likely in next few days. Potential bear trap occurred on June 28th as price broke below support but has since regained that support level. Clear descending triangle pattern is coming to a head in the next few days as price moves up towards trendline resistance.
Descending Triangle...
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There is a Flag formation on Marriott.
There was a strong and confident bullish sentiment before.
Then price entered into consolidation and multiple times bounced from support and resistance zones.
Follow the chart and look for the breakout...
The PEAD projected a Neutral outlook for $MAR after a Negative Under reaction following its earnings release placing the stock in drift D
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its been a while the tourism industry is suffering from travel restriction and border lockdown due to spread of Covid19 Virus. It seems there is still potential new regulation that may effect the airlines and tourism business before it really completely safe for everyone to travel. According to the previous forecast, the price was tumbled and endured on EMA 200...
Smaller cup and handle is fully broken out. Could form a larger one, but I think it is more likely to gap up through the channel as COVID reopenings continue.
Posted previously that I thought the hotels would cup and handle leading to longterm growth into March/April.
The uptrend started on friday and all have started to active sequence their EMAs. I will work to create wave buy/sell points in the coming week to better understand price targets.
