Mid-America Apartment Communities, Inc., (MAA) is a real estate investment trust (REIT), focused on delivering full-cycle & superior investment performance for shareholders through the ownership, management, acquisition, development & redevelopment of quality apartment communities in the southeast, southwest & mid-Atlantic regions of United states. It comes under Real Estate sector & trades as “MAA” ticker at NYSE.
Since the 2009, MAA made a biggest pullback in March-2020 & made an intermediate low at $82.00. Thereafter it made all time high at $231.63 on 12/31/2021 as the part of a 5 swing impulse sequence. Currently, it favors a pullback in proposed 5-3-5 zigzag structure against the cycle from March-2020 low.
MAA – Elliott Wave Latest Daily View:
It made an intermediate low of $82.00 on 3/23/2020 low during global selloff during early-2020. Thereafter, it placed ((1)) at $127.74 high on 6/08/2020 & ((2)) at $108.06 low on 6/24/2020 low. ((2)) was slightly below 0.382 retracement of previous cycle. While above there, it started third wave of third wave extension & ended ((3)) at $207.69 high on 10/28/2021. It favored ended ((4)) at $197.92 low as a very shallow correction. Finally, it finished ((5)) at $231.63 high on 12/31/2021 as wave I. While below there, it favors wave II correction in proposed zigzag correction towards $179.88 – $156.54 area before upside resumes.
Below $231.63 high, it favored ended ((A)) at $193.91 low & ((B)) at $217.64 high on 4/06/2022. It already breaks below ((A)) low, calling for more weakness to continue towards $179.88 – $156.54 as blue box area. Currently, it favors lower (3) of ((C)) & expect a small bounce followed by new low to finish the correction of II before upside resumes or at least a 3 swing bounce. We expect it to extend higher from blue box area for next leg higher or at least a bounce.
Elliottwave Forecast updates 1-hour charts four times a day & 4-hour charts once a day for all our 78 instruments. We do a daily live session, where we guide our clients on the right side of the market. In addition, we have a chat room where our moderators will help you with any questions you have about what is happening in the market at the moment. You can try us for 14 days for only $9.99.
Back
