Relative Strength Lodging Leader Forms Tight Bull Flag
Marriott (MAR) shares are coiling up in a narrow bull flag and Wednesday formed a small body inside day candle near the high end of the prior days bull candle after regaining the 8 EMA this week and now looks poised to breakout to new highs above 210 with the hotel chain continuing a strong year up nearly 40% in 2023 and earnings recently strong beats and the company raising its EPS guidance higher. MAR still has the massive 2500 January $170 deep ITM call buyer in open interest from buys on 8/2 for $42.60.