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Possible Bearish Inside Day Candle Pattern Detected for Marriott Vacatio (NYSE:VAC)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Marriott Vacatio (NYSE:VAC) based on the price action in the company's shares. Yesterday's price range of $80.05 and $81.36 is within the prior day'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 Vacatio may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Marriott Vacatio has overhead space with shares priced $81.20, or 47.2% below the average consensus analyst price target of $153.67. Marriott Vacatio shares should first meet resistance at the 50-day moving average (MA) of $91.83 and find additional resistance at the 200-day MA of $116.80.

Over the past year, Marriott Vacatio has traded in a range of $72.10 to $154.14 and closed yesterday at $81.20, 13% above that low. Over the past week, the 200-day moving average (MA) has gone down 1.3% while the 50-day MA has declined 3.8%.

Marriott Vacations Worldwide Corporation is a worldwide developer, marketer, seller, and manager of vacation ownership resorts and vacation club, destination club, and exchange programs. The Company focuses on selling vacation ownership products, managing resorts, financing consumer purchases of vacation ownership products, and renting vacation ownership inventory.

SmarTrend is tracking the current trend status for Marriott Vacatio and will alert subscribers who have VAC in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle marriott vacatio

Ticker(s): VAC