Swing Trade Idea (MAR) – May 2, 2024
Our bearish trade for Thursday, May 2nd is Marriott International, Inc. (MAR). MAR is part of the Consumer Discretionary Sector, which has performed at -2.95% over the last week, with MAR underperforming at 5.60% over the same period.
MAR has been very bullish recently and is pulling back from all-time highs as it was overbought. With the equity market in general also pulling back from extreme highs, we believe that MAR will continue this trajectory over the duration of this trade with support at around $210.
As a close, if MAR were to trade above $240 for multiple days, this would invalidate our analysis and we will consider losses on the trade. We will also consider cutting losses on this options trade if the value of the vertical spread moves below $3.96.
