Mid-America Apartment Communities Inc Stock Forecast
Mid-America Apartment Communities Inc stock upgraded from Sell Candidate to Buy Candidate after Thursday trading session.
(Updated on May 02, 2024)
The Mid-America Apartment Communities Inc stock price gained 0.81% on the last trading day (Thursday, 2nd May 2024), rising from $130.62 to $131.68. During the last trading day the stock fluctuated 3.52% from a day low at $127.24 to a day high of $131.72. The price has risen in 8 of the last 10 days and is up by 5.67% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 768 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $187.70 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.44% during the next 3 months and, with a 90% probability hold a price between $127.46 and $140.28 at the end of this 3-month period.
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MAA Signals & Forecast
Mostly positive signals in the chart today. The Mid-America Apartment Communities Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $129.75 and $129.31. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 6.37%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
A sell signal from a double top formation was found on Tuesday, April 09, 2024 and based on theory for this formation the price should fall by -1.40% to $129.84 within 20 trading days since signal was issued (Friday, May 03, 2024).
Support, Risk & Stop-loss for Mid-America Apartment Communities Inc stock
Mid-America Apartment Communities Inc finds support from accumulated volume at $130.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $4.48 (3.52%) between high and low. For the last week, the stock has had daily average volatility of 2.06%.
Our recommended stop-loss: $125.39 (-4.78%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (MAA) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Mid-America Apartment Communities Inc to open at $130.21, and during the day (based on 14 day Average True Range), to move between $128.92 and $134.44, which gives a possible trading interval of +/-$2.76 (+/-2.09%) up or down from last closing price. If Mid-America Apartment Communities Inc takes out the full calculated possible swing range there will be an estimated 4.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $132.36 (0.52%) than the support at $130.00 (1.28%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Mid-America Apartment Communities Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Mid-America Apartment Communities Inc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.754 Buy Candidate Upgraded
Predicted Opening Price for Mid-America Apartment Communities Inc of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $130.21 ( 1.11%) | $131.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MAA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 134.69 | 2.29 % | |
| R2 | 132.98 | 0.99 % | ||
| R1 | 131.92 | 0.186 % | ||
| Current price: | 131.68 | |||
| Support | S1 | 128.50 | -2.41 % | |
| S2 | 127.44 | -3.22 % | ||
| S3 | 125.73 | -4.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 135.38 | 2.81 % | |
| R2 | 132.72 | 0.790 % | ||
| R1 | 132.36 | 0.516 % | ||
| Current price | 131.68 | |||
| Support | S1 | 130.00 | -1.28% | |
| S2 | 125.68 | -4.56% | ||
| S3 | 124.48 | -5.47% |
MAA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 12, 2024 | Apr 12, 2024 | Apr 30, 2024 | $1.47 | 1.13% |
| 2 | Dec 12, 2023 | Jan 11, 2024 | Jan 31, 2024 | $1.47 | 1.16% |
| 3 | Sep 12, 2023 | Oct 12, 2023 | Oct 31, 2023 | $1.40 | 1.18% |
| 4 | May 16, 2023 | Jul 13, 2023 | Jul 31, 2023 | $1.40 | 0.94% |
| 5 | Mar 21, 2023 | Apr 13, 2023 | Apr 28, 2023 | $1.40 | 0.91% |
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