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Possible Bullish Inside Day Candle Pattern Detected for Marriott International (NYSE:MAR)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Marriott International (NYSE:MAR) based on the price action in the company's shares. Today's price range of $94.46 and $95.32 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. Traders and investors interested in shares of Marriott International may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Marriott International (NYSE:MAR) defies analysts with a current price ($95.22) 2.9% above its average consensus price target of $92.50. Marriott International shares have support at the 200-day moving average (MA) of $69.37 and additional support at the 50-day MA of $68.82.

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/condominium owner associations for projects associated with several of its brands.

Marriott International share prices have moved between a 52-week high of $96.82 and a 52-week low of $56.43 and are now trading 69% above that low price at $95.22 per share. 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 International. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Marriott International in search of a potential trend change.

Keywords: bullish inside day candle Marriott International

Ticker(s): MAR