On Thursday, Marriott International cleared a key performance benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 83, up from 80 the day before.
IBD's proprietary RS Rating measures technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the trailing 52 weeks matches up against that of all other stocks.
Over 100 years of market history shows that the stocks that go on to make the biggest gains often have an RS Rating of over 80 in the early stages of their moves.
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Marriott International broke out earlier, but is now trading approximately 4% below the prior 295.45 entry from a flat base. In the scenario where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new pattern to take shape. Also understand that the latest pattern is a later-stage base, and such bases are more prone to failure.
The company showed -31% earnings growth in its most recent report, while sales growth came in at 5%.
The company earns the No. 8 rank among its peers in the Leisure-Lodging industry group. Atour Lifestyle Hldgs ADR, Playa Hotels & Resorts and Choice Hotels Intl are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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