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Marriott International reported third quarter results as stock falls 1.9%
Marriott reported third quarter results, reflecting continued momentum in its business. The stock is down 1.9% on the day at $417.28.
MAR price prediction
Current price:
$417.16
0.5700
0.14%
Closed
11/09
Daily range
416.03
425.01
425.01
Weekly range
410.48
429.40
429.40
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Highlights
- Marriott raised its full-year global RevPAR outlook and reported a 6.5% year-over-year increase in worldwide RevPAR for the third quarter.
- 51 of 109 analysts rate Marriott stock a buy, with a median price target of $393 and 8 recommending a sell.
- Marriott stock is down 1.9% on the day at $417.28.
Marriott reported its third quarter results this week, highlighting ongoing momentum across its operations. The company raised its full-year global revenue per available room (RevPAR) outlook, according to Defense World. Worldwide RevPAR increased 6.5 percent from the year-earlier quarter, Ad Hoc News reported.
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Daily bullish structure holds as overbought signals cap immediate upside
The intraday range in the latest session broadened considerably, stretching from $416.02 to $429.4 and extending well beyond the typical weekly range. Price remains above its MA-20, MA-50, and MA-200, maintaining a daily bullish structure even as the advance faces resistance at the weekly high of $432.48. Current RSI at 70.3 reflects overbought conditions and limits upside potential from here.
Upside odds dominate as traders eye a close above the weekly high
Traders should watch whether price can close above $432.48 to confirm continued buyer interest. During the most recent session, shares of Marriott moved in an unusually wide band between $416.02 and $429.4. Even so, over the next five trading days, upside probability is 75% and downside risk is 25%, with expectations set for a range between $402.32 and $432.23. A close above the weekly high would indicate buyers are willing to follow through, while a drop below $399.05 would suggest the move is being faded. On the weekly chart the longer-term picture stays firmly constructive.
Previously it was reported that Marriott’s third quarter results reflected broad operational strength and a constructive technical outlook. With recent volatility expanding and the advance encountering resistance, traders should closely monitor a weekly close above $432.48 to gauge whether buyers are prepared to sustain the prevailing upward trend.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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