Macerich Company (The) Stock Forecast
Macerich Company (The) stock upgraded from Buy Candidate to Strong Buy Candidate after Wednesday trading session.
(Updated on Mar 27, 2024)
The Macerich Company (The) stock price gained 2.52% on the last trading day (Wednesday, 27th Mar 2024), rising from $16.67 to $17.09. During the last trading day the stock fluctuated 1.33% from a day low at $16.89 to a day high of $17.11. The price has risen in 6 of the last 10 days and is up by 4.27% over the past 2 weeks. Volume fell on the last day by -89 thousand shares and in total, 1 million shares were bought and sold for approximately $21.21 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 8.01% during the next 3 months and, with a 90% probability hold a price between $17.43 and $19.53 at the end of this 3-month period.
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MAC Signals & Forecast
Mostly positive signals in the chart today. The Macerich Company (The) 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 $16.90 and $16.66. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 12, 2024, and so far it has risen 7.48%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Macerich Company (The) stock
Macerich Company (The) finds support from accumulated volume at $16.96 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 $0.225 (1.33%) between high and low. For the last week, the stock has had daily average volatility of 2.58%.
Our recommended stop-loss: $16.42 (-3.93%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (MAC) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Macerich Company (The) to open at $17.03, and during the day (based on 14 day Average True Range), to move between $16.58 and $17.60, which gives a possible trading interval of +/-$0.514 (+/-3.01%) up or down from last closing price. If Macerich Company (The) takes out the full calculated possible swing range there will be an estimated 6.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $17.13 (0.23%) than the support at $16.96 (0.76%), 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 Macerich Company (The) stock A Buy?
Macerich Company (The) holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.006 Strong Buy Candidate Upgraded
Predicted Opening Price for Macerich Company (The) of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$17.03 ( 0.361%) | $17.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MAC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 17.25 | 0.96 % | |
R2 | 17.17 | 0.453 % | ||
R1 | 17.11 | 0.142 % | ||
Current price: | 17.09 | |||
Support | S1 | 16.94 | -0.86 % | |
S2 | 16.89 | -1.17 % | ||
S3 | 16.80 | -1.68 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 17.47 | 2.22 % | |
R2 | 17.22 | 0.761 % | ||
R1 | 17.13 | 0.234 % | ||
Current price | 17.09 | |||
Support | S1 | 16.96 | -0.761% | |
S2 | 16.61 | -2.81% | ||
S3 | 16.41 | -3.98% |
MAC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 02, 2024 | Feb 15, 2024 | Mar 04, 2024 | $0.170 | 1.02% |
2 | Oct 27, 2023 | Nov 08, 2023 | Dec 01, 2023 | $0.170 | 1.40% |
3 | Aug 04, 2023 | Aug 17, 2023 | Sep 08, 2023 | $0.170 | 1.45% |
4 | Apr 28, 2023 | May 18, 2023 | Jun 02, 2023 | $0.170 | 1.67% |
5 | Jan 27, 2023 | Feb 16, 2023 | Jun 02, 2023 | $0.170 | 1.67% |
FAQ
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