Marriott International Bearish Signs

Published on Friday, 22 June 2012 04:45 Written by TradersHuddle Wire

New York, June 22nd (TradersHuddle.com) - Shares of Marriott International, Inc. (NYSE:MAR) ended the trading session lower by $1.17 or -2.94% from its previous close. Marriott's price action formed what is considered to be a bearish engulfing candlestick chart pattern.

Marriott International, Inc. (NYSE:MAR) is a worldwide operator and franchisor of hotels. The Company franchises lodging facilities and vacation timesharing resorts under the Marriott, JW Marriott, Vactaion Club, Courtyard, Residence Inn, and Fairfield Inn brand names.

Marriott's current stock range is determined by calculated support defined at $35.68 and by the resistance level at $40.00, which should be used by traders planning their next move.

If traders want to establish a position in Marriott International, they need to pay close attention at the bearish engulfing pattern, since it could mark a trend reversal in the current price action. The Bearish engulfing pattern is a leading warning sign; therefore, traders should closely monitor Marriott International for indications of a trend reversal. Below an Engulfing Bearish Candle Illustration: