Marriott Stock Could Consolidate
| Feb 14, 2022 05:40AM ET
When we look at the Marriott (NASDAQ:MAR) chart, we see its steady climb from the $162 range at the start of last week, well into the $174 price range where it stabilized and also reached as high as $177.
However, during Friday’s session, there was a retraction from the high to the $170 level, breaking down the from $172 level, possibly due to anticipation for the earnings announcement.
Marriott has scheduled a quarterly earnings announcement tomorrow. If earning expectations are surpassed, we could expect the price to move upwards, towards the $178 price range.
It was last found trading at $170.36 with the closest overhead resistance of $178 and the closest support level at $162. Today we can expect a consolidation at the current level or a move towards $177 resistance.
If however, it doesn’t manage to hold on to the current level then a move towards the $162 support can be expected.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.