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Swing Trade Idea (MAR) – August 03, 2023

Our bearish trade for Thursday, August 3rd is Marriott International, Inc. (MAR). MAR is part of the Consumer Discretionary Sector, which has performed at -1.73% over the last week, with MAR overperforming at 5.05% over the same period.

MAR has been very bullish recently and topped at around $205, where it is showing signs of exhaustion. Its corresponding sector has been neutral to bearish over the last few weeks, and we, therefore, believe that MAR will correct and pull back to lower levels. Support is at around $195 and then $180.

As a close, if MAR were to trade above $205 for multiple days, this would invalidate our analysis and will consider cutting losses on the trade. We also want to consider cutting losses on this options trade if the value of the vertical spread moves below $3.33.