MAA climbs to highest close since January 31st


Mid-America Apartment Communities Inc. (MAA) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team

Highlights

MAA closes below its opening price unable to hold early session gains
MAA unable to break through key resistance level
MAA closes higher for the 2nd day in a row
MAA pushes through previous session high
MAA rises to highest close since January 31st

Overview

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.

Daily Candlestick Chart (MAA as at Apr 16, 2018):

Daily technical analysis candlestick chart for Mid-America Apartment Communities Inc. (MAA) as at Apr 16, 2018

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.


Market Conditions for MAA as at Apr 16, 2018

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