A descending triangle pattern has formed in the chart of Marriott International (NASDAQ:MAR). This is a bearish pattern. If the support level is broken, a breakdown could soon occur. Read more to learn how to take advantage of this trade.A descending triangle pattern has emerged in the chart of Marriott International Inc. (MAR). This is a bearish pattern and if the support level is broken, a breakdown could occur.
MAR is a leading worldwide hospitality company focused on lodging management and franchising. The company operates over 1.4 million rooms in 7,600 properties across roughly 30 brands. Its largest brands include Marriott, Courtyard, and Sheraton.
The company has struggled on account of the pandemic and has suspended its share repurchase program and dividend payments for the time being. However, MAR is seeing improvement in occupancy and bookings in China. As the economy opens up, the company should benefit from its focus on expansion initiatives and its loyalty program.