Marriot International incurred its largest ever one-day and weekly share price drop last week, as fears over the coronavirus caused stocks inside the NASDAQ to plummet.
MAR stock price analysis shows that the hospitality stock still has the potential to recover higher while price trades above the $100.00 level.
Marriot International US medium-term price trend
Investors turned their most bearish towards US stocks since the 2008 financial crisis last week, with hospitality stocks hit especially hard.
Marriot International share price analysis shows that the pullback could present a major dip buying opportunity, as long as the $100.00 support level holds firm.
The daily time frame is showing that despite the twenty percent drop in the value of Marriot International last week, the stock is still trading above its 200-day moving average.
Furthermore, a huge inverted head and shoulder pattern is still valid on the daily time frame, and continues to point to an eventual rally towards the $198.00 level.
Looking at the downside potential for Marriot International, weakness below the $113.00 level could trigger a test of the $100.00 level.
It is noteworthy that weakness below the $100.00 level could cause the share price to capitulate towards the $50.00 level.
Marriot International short-term price trend
MAR share technical analysis shows that the short-term trend is only bullish while price trades above the $140.00 level.
Last weeks decline caused the hospitality giants share price to move below all key short-term moving averages and break the important October 2019 low.
Price is currently trapped within a neutral triangle pattern, which is indicating an upcoming $20.00 direction move.
With this in mind, a bearish breakout under the triangle could provoke a potential price slump towards the $100.00 level.
The bullish scenario could see price testing towards the $135.00 and possibly the $140.00 resistance level.
Marriot International US technical summary
Marriot International stock price analysis points to a possible upside correction while price holds above the $113.00 level. Weakness below the $100.00 could provoke a downside plunge towards the $50.00 level.
