Hotels and Consumer Discretionary Stocks – Marriott (MAR)
Marriott (MAR) International is a late addition to the watchlist. This candidate popped up on the Bollinger Band TTM Scan this weekend. We anticipate the stock will continue higher, as price hugs the upper bands.
Technically speaking, the stock has been knocking out a base for the past four months. It is breaking out of a descending wedge or channel pattern. Given the previous performance during the summer and fall 2017, we’re anticipating a trend will develop.
Watch for a BBTTM trigger on above-average volume over the next couple of weeks, as the stock trades post-earnings (+40%).
With the NDX most active heavily populated with chip stocks this morning, we are leaning towards semiconductors for new entries after the Opening Range is set.
We will consider adding to INTC, NVDA, and MU.
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