MAA climbs to highest close since January 31st
Moving higher for the 2nd day in a row, MAA finished Monday at 91.69 gaining $0.19 (0.21%). Today's closing price of 91.69 marks the highest close since January 31st. Trading $0.64 higher after the open, the stock was unable to hold its gains as the bears took control ending the day below its opening price. Closing above Friday's high at 91.63, Mid-America Apartments confirms its breakout through the prior session's high having traded $0.71 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Monday's trading range was $1.33 (1.45%), that's slightly below last trading month's daily average range of $1.59. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.
Prices are trading close to a key support level at 90.85. Unable to break through the key technical resistance level at 92.15, the market closed below it after spiking as high as 92.34 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.
While still in a long-term downtrend, the short and medium-term trends both turned bullish already.
Trading close to February's high at 94.05 we might see further upside momentum if potential buy stops at the level get activated.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for Mid-America Apartments
|White Candle||TQ Pro Members Only|
|RSI(2) above 80||TQ Pro Members Only|
|Price broke through Technical Resistance R1||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|Decisive Up Move||TQ Pro Members Only|
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Stocks Top Movers