Send me real-time posts from this site at my email
Fan Yang

Marriott International (MAR) in a Key Bullish Breakout

Marriott International $MAR was in a critical bullish breakout last week and is starting this week (4/8) on a positive note as well.

Last week, Marriott International announced that it will be undertaking a major expansion into the Asian Pacific in 2020. It will be "growing its footprint by 40 percent, which would give the company 1,000 hotels in the region by 2020 across all of its 30 brands" (meetings-conventions.com)

MAR Weekly Chart

(click to enlarge)

Bullish Continuation:
- As we can see on the weekly chart, price has been in consolidation/correction mode since early 2018.
- But since late 2018, price has been rebounding. 
- After an resistance around the $130 level in February, price has broken above this level in April.
- The $150 mark is now in sight, and the $130 area has become a key support for the bullish outlook.
- $120 will also be a key support, below which we can anticipate further consolidation/correction.

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue