MARRIOTT INTERNATIONAL -CL A (NASDAQ:MAR) Technical Analysis observations.

Our stock screener has spotted MARRIOTT INTERNATIONAL -CL A (NASDAQ:MAR) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NASDAQ:MAR.

What is the technical picture of NASDAQ:MAR telling us.

As part of its analysis, ChartMill provides a comprehensive Technical Rating for each stock. This rating, ranging from 0 to 10, is updated on a daily basis and is based on the evaluation of various technical indicators and properties.

Overall MAR gets a technical rating of 9 out of 10. Both in the recent history as in the last year, MAR has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
• Looking at the yearly performance, MAR did better than 90% of all other stocks. We also observe that the gains produced by MAR over the past year are nicely spread over this period.
• MAR is part of the Hotels, Restaurants & Leisure industry. There are 143 other stocks in this industry. MAR outperforms 80% of them.
• MAR is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so MAR is performing more or less in line with the market.

For an up to date full technical analysis you can check the technical report of MAR

How does the Setup look for NASDAQ:MAR

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the level of consolidation in the stock based on multiple short-term technical indicators. Currently, NASDAQ:MAR has a 9 as its setup rating, indicating its current consolidation status.

Besides having an excellent technical rating, MAR also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 208.52. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 202.50, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

How can NASDAQ:MAR be traded?

One strategy to consider is waiting for the actual breakout to occur, where the stock breaks out above the current consolidation zone. Traders can then enter a buy position, anticipating further upward momentum. As a risk management measure, it is advisable to set a stop loss order below the consolidation zone.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

More breakout setups can be found in our Breakout screener.

Disclaimer

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.