Will Marriott Attempt a Breakout?
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 trapped below the 200-day SMA.
There’s also a falling trendline along the highs of June and September, which the stock is now above.
In both cases, old resistance seems to be morphing into new support.
Second, consider the series of higher lows since June. Have long-term buyers added at incrementally richer prices?
Next, the 8-day exponential moving average (EMA) has remained above the 21-day EMA since mid-October. This could reflect a favorable short-term trend. (See the lower study with our 2 MA Ratio custom script.)
Finally, on the weekly chart, MAR is in the process of forming a bullish outside candle.
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This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
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 trapped below the 200-day SMA.
There’s also a falling trendline along the highs of June and September, which the stock is now above.
In both cases, old resistance seems to be morphing into new support.
Second, consider the series of higher lows since June. Have long-term buyers added at incrementally richer prices?
Next, the 8-day exponential moving average (EMA) has remained above the 21-day EMA since mid-October. This could reflect a favorable short-term trend. (See the lower study with our 2 MA Ratio custom script.)
Finally, on the weekly chart, MAR is in the process of forming a bullish outside candle.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
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