Marriott International Lower With High Volume
Published on Friday, 22 June 2012 11:38 Written by TradersHuddle Wire
New York, June 22nd (TradersHuddle.com) - Unusual high volume detected on shares of Marriott International, Inc. (NYSE:MAR) early in the trading session. The pace in volume of Marriott International points to a break above average, with sellers in control, as the stock is 2.94% lower.
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 International has already traded 0.856 times its 3-month average volume and has calculated support and resistance at $35.68 and $40.00 respectively. Traders like to use volume as their lie detector for price action movement through predefined trading ranges.
The overall market index S&P 500 is trading higher by 0.35% from its previous trading close, which means that Marriott International stock is underperforming the overall market.
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