Mid-America Apartment Communities Inc Stock Forecast
Evaluation of Mid-America Apartment Communities Inc stock downgraded after the last trading session.
(Updated on Apr 18, 2024)
The Mid-America Apartment Communities Inc stock price fell by -0.144% on the last day (Thursday, 18th Apr 2024) from $124.80 to $124.62. During the last trading day the stock fluctuated 1.36% from a day low at $124.01 to a day high of $125.70. The price has fallen in 6 of the last 10 days and is down by -1.74% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -243 thousand shares and in total, 952 thousand shares were bought and sold for approximately $118.62 million.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $123.24 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Mid-America Apartment Communities Inc stock with a 90% probability to be traded between $123.10 and $135.21 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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MAA Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.670%. Further rise is indicated until a new top pivot has been found. 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 sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $127.56 and $129.86. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
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 $124.52 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 $1.69 (1.36%) between high and low. For the last week, the stock has had daily average volatility of 2.09%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MAA) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Mid-America Apartment Communities Inc to open at $124.77, and during the day (based on 14 day Average True Range), to move between $121.68 and $127.56, which gives a possible trading interval of +/-$2.94 (+/-2.36%) 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 4.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $124.52 (0.08%) than the resistance at $134.06 (7.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Mid-America Apartment Communities Inc will release earnings AMC on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $2.25. We will update the financials statements for Mid-America Apartment Communities Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.02% in the first trading day after earnings release.
Is Mid-America Apartment Communities Inc stock A Buy?
Mid-America Apartment Communities Inc holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.069 Sell Candidate Downgraded
Predicted Opening Price for Mid-America Apartment Communities Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $124.77 ( 0.123%) | $124.62 |
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 | 126.46 | 1.48 % | |
| R2 | 125.82 | 0.96 % | ||
| R1 | 125.42 | 0.641 % | ||
| Current price: | 124.62 | |||
| Support | S1 | 124.13 | -0.395 % | |
| S2 | 123.73 | -0.715 % | ||
| S3 | 123.08 | -1.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 135.61 | 8.82 % | |
| R2 | 135.24 | 8.52 % | ||
| R1 | 134.06 | 7.58 % | ||
| Current price | 124.62 | |||
| Support | S1 | 124.52 | -0.0802% | |
| S2 | 124.48 | -0.112% | ||
| S3 | 123.35 | -1.02% |
MAA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 12, 2024 | Apr 12, 2024 | Apr 30, 2024 | $1.47 | 1.18% |
| 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% |
FAQ
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