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Possible Bearish Inside Day Candle Pattern Detected for Marriott Intl-A (NYSE:MAR)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Marriott Intl-A (NYSE:MAR) based on the price action in the company's shares. Today's price range of $100.76 and $101.70 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Marriott Intl-A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Marriott International Inc. is a worldwide operator and franchisor of hotels. The Company franchises lodging facilities and vacation timesharing resorts under various brand names. Marriott also provides services to home and condominium owner associations for projects associated with several of its brands.

Marriott Intl-A (NYSE:MAR) has potential upside of 6.5% based on a current price of $101.04 and analysts' consensus price target of $107.63. The stock should discover initial support at its 200-day moving average (MA) of $69.37 and subsequent support at its 50-day MA of $68.82.

Over the past year, Marriott Intl-A has traded in a range of $60.87 to $110.51 and is now at $101.04, 66% above that low. The 200-day and 50-day moving averages have moved 0.23% lower and 0.37% higher over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Marriott Intl-A. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Marriott Intl-A in search of a potential trend change.

Keywords: bearish inside day candle marriott intl-a

Ticker(s): MAR