Marriott stock price is in a prolonged bullish trend, trading above the 20, 50, 100, and 200-day EMAs, indicating bullishness in the on-day chart. The chart also shows a breakout from the consolidation phase.
The MAR stock has tested the demand zone near $198 multiple times, finding support and bouncing back. Buyers have regained strength and are aiming for the $210 level in the coming sessions.
The chart structure shows volatility in the previous months, with the stock facing multiple rejections from the supply range of $203. The lower levels near $200 acted as a support region, and the stock bounced from there, making the price trade in a narrow range.
Furthermore, the stock’s trajectory shows that beyond $210, the zone is bullish, and a rally could be seen. But, if further rejection takes place, then the stock will continue to trade in the congestion zone. Similarly, below $200, bearishness could be extended.
The intraday trading volume is 3.9 Million, and the average 10-day volume of 1.858 Million. The market cap of Marriott stock is $60.59 Billion.
Technical Analysis of Marriott Stock Price in 1-D Timeframe
Currently, Marriott stock (NASDAQ: MAR) is trading above the 50 and 200-day SMAs (simple moving averages), which are supporting the price momentum.
However, if buying volume adds up, then the price might support the bullish momentum by making higher highs and new highs. Hence, Marriott price is expected to move upwards giving bullish views over the daily time frame chart.
The current value of RSI is 51.72 points. The 14 SMA is above the median line at 53.51 points which indicates that the Marriott stock is bullish.
The MACD line at 0.8390 and the signal line at 1.23 are above the zero line. A bearish crossover is observed in the MACD indicator which signals weakness in the momentum of the MAR stock price.
Short-Time Horizon Analysis
Marriott stock has shown neutrality on the short-term charts. Moreover, the price is trading above the key EMAs, which shows further strength in the stock. The RSI curve is near the neutral region at 49.99. However, the stock might bounce back from the current level.
Summary
Marriott Stock price is trading in a prolonged bullish trend. However, the trend takes a pause and consolidates between a range. MAR stock forecast implies that stock price might continue the bullish trend. MACD, RSI, and EMAs indicate neutrality.
Technical Levels
- Support Levels: $197.95 and $183.36.
- Resistance Levels: $211.29 and $220.00.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/09/16/marriott-stock-forecast-mar-stock-ready-take-off-above-210/