MAA breaks below previous session low


Mid-America Apartments (MAA) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
MAA breaks key support level
MAA closes lower for the 5th day in a row
MAA runs into sellers again around 89.26
MAA breaks below previous session low
MAA falls to lowest close since March 27th
TQ Sentiment
Report Sentiment: 60% Bearish
Technical Forecast:
Overview

Moving lower for the 5th day in a row, MAA ended Thursday at 88.24 losing $0.66 (-0.74%). Today's closing price of 88.24 marks the lowest close since March 27th. Closing below Wednesday's low at 88.51, the stock confirms its breakout through the prior session's low having traded $0.57 below it intraday.

Daily chart for MAA
Volatility

Thursday's trading range was $1.32 (1.48%), that's slightly below last trading month's daily average range of $1.50. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being slightly above average.

Support/Resistance

Breaking below the key support level at 88.73 today, it is now likely to act as resistance going forward. After having been unable to move above 89.43 in the previous session, the market ran into sellers again around the same price level today, failing to move higher than 89.26.

Trend

The share shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.

Order Flow

With prices trading close to this year's low at 85.16, downside momentum could speed up should Mid-America Apartments break out to new lows for the year.

Conclusion

While classical technical analysis indicates a slightly bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Mid-America Apartments
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
More market conditions identified for TQ Pro members...
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