Mid-America Apartment Communities Inc Stock Forecast

Mid-America Apartment Communities Inc stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Apr 26, 2024)

MAA Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 4.39%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Mid-America Apartment Communities Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $129.62. On a fall, the stock will find some support from the short-term average at $127.21. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Tuesday, April 09, 2024 with a target of $129.84. Despite whether the objective of the signal formation has been reached the stock may continue to fall.

Support, Risk & Stop-loss for Mid-America Apartment Communities Inc stock

Mid-America Apartment Communities Inc finds support from accumulated volume at $127.92 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 $2.27 (1.78%) between high and low. For the last week, the stock has had daily average volatility of 1.72%.

Our recommended stop-loss: $122.63 (-5.11%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)

Trading Expectations (MAA) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Mid-America Apartment Communities Inc to open at $128.84, and during the day (based on 14 day Average True Range), to move between $126.55 and $131.91, which gives a possible trading interval of +/-$2.68 (+/-2.07%) 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 4.14% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $127.92 (1.01%) than the resistance at $132.36 (2.42%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Mid-America Apartment Communities Inc stock A Buy?

Several short-term signals 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 period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.161 Buy Candidate Upgraded

Predicted Opening Price for Mid-America Apartment Communities Inc of Monday, April 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.