MAR pushes through 20-day moving average

Marriott Int'l. (MAR) Technical Analysis Report for Jul 13, 2018

Highlights

MAR pushes through key resistance level
MAR pushes through 20-day moving average
MAR closes higher for the 2nd day in a row
MAR runs into sellers again around 131.16
MAR rises to highest close since June 22nd

TQ Sentiment

Report Sentiment:
22% Bullish
Technical Forecast:

Overview

Moving higher for the 2nd day in a row, MAR ended the week 2.62% higher at 131.01 after edging higher $0.24 (0.18%) today on low volume. Today's closing price of 131.01 marks the highest close since June 22nd. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session.

Daily chart for MAR

Volatility

Friday's trading range was $0.74 (0.57%), that's far below last trading month's daily average range of $2.13. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly above average. Prices continued to consolidate within a tight trading range between 129.26 and 131.16 which it has been in now for the last three days.

Support/Resistance

Breaking through the key resistance level at 130.77 today, it is now likely to act as support going forward. After having been unable to move above 131.09 in the previous session, Marriott Int'l. ran into sellers again around the same price level today, failing to move higher than 131.16.

Trend

Although the market is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory. The stock managed to break above the 20-day moving average at 130.57 today for the first time since June 1st.

Order Flow

Buying might speed up should prices move above the nearby swing high at 131.43 where further buy stops could get activated. Selling might accelerate should prices move below the close-by swing low at 129.26 where further sell stops could get triggered.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Marriott Int'l.

Loading Market Conditions for $MAR (Marriott Int'l.)...
Latest Report:

MAR closes within prior day's range

Sep 21, 2018
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