Double top in recent months, overbought (typically presents opportunity to short when over-extended), daily curling on MACD, false crossover on MA 50/200, trend resistance long term on weekly chart
Marriott has gone essentially nowhere since the pandemic began almost three years ago. But now the hotel giant could be getting ready to move.
The first pattern on today’s chart is the tight consolidation over the past three weeks. Notice how MAR has stayed above its 200-day simple moving average (SMA). It’s a change from August and September, when prices were...
The PEAD projected a Bullish outlook for $MAR after a Positve over reaction following its earnings release placing the stock in drift B with an expected accuracy of 100%.
The stock is testing its 200-day simple moving average.
The MACD that is converging is a concern.
Below 166.10 supports a bearish trend direction.
Consolidation from 160.00 to 164.10.
Crossing below 160.00 might target 155.90.
Crossing above 164.10 will be the first sign of pending strength.
The PEAD projected a Bullish outlook for $MAR after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 80%.
Given the poor performance of Marriott business in 2020 and 2021 associated with lockdowns and geopolitical risks that may worsen revenue flows is it time to short this stock?
Let's look at it in more detail.
Fundamental indicators:
Revenue and Profits - not consistent long-term earnings growth over the past 10 years, 2020 and 2021 have seen dramatic...
Based on its uptrend, rebound from support and a familiar chart pattern confirmed by my technical indicators, I expect at least half a percent of profits IF $MAR exceeds today's high of $181.57 during tomorrow's session.
Despite last week’s sharp drop in the market, one group tried to break out: Hotel stocks like Marriott.
The main pattern on today’s chart is the high-volume rally and breakout April 13-20. The move followed comments by airlines like Delta Air Lines , American Airlines and United Airlines about strong post-pandemic demand for travel .
Second, notice how...
Defensive Plan
Planning staggered stop if breakout does work right away
50% sell breakout day low
75% sell 20 D MA
100% sell 50 D MA
Aggressive Plan
The plan could change to be more aggressive if the setup improves after an orderly pullback or tightening to new highs
IBD RATINGS FOR MAR
ChecklistRating
Composite Rating98Pass
EPS Rating79Fail
RS...
The PEAD projected a Bullish outlook for $MAR after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 75%.
Earnings watch 2/15 pre-market:
MAR
QSR
HUN
ZTS
ARCH
TRTN
PTN
ECL
FIS
SABR
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
*3x lucky 7s of...
Starting to see some reopening plays popping up with bases.
$MAR is one that I will be watching early on this week. Nice base with a potential clear pivot.
Not a big fan of volume pattern but that's all we are getting right now.
ANALYSIS:
$MAR last trading session showed great rejection candle off last year high and previous month low.
After pulling back to Pivot Based EMAs, price closed just above slow PEMA.
The rejection is supported by low volume node from the composite volume profile over the last six months.
In addition, the rejection area remains highly important for $MAR since...
* Great earnings
* Strong up trend
* Very high RS in the Consumer Services sector
* Earnings steadily increasing quarter over quarter
* Breaking out of a ~8 month consolidation with higher than average volume
* Recently broke a long term resistance of $152.78 that dates back to 2019 and retested it as support for ~5 weeks
Trade Idea:
* Now is the perfect time...
