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Macerich Co Looks to Continue to Trade Below its Annual-Low Share Price Today

By James Quinn

Macerich Co (NYSE:MAC) traded at a new 52-week low today of $51.01. Approximately 151,000 shares have changed hands today, as compared to an average 30-day volume of 766,000 shares.

The Macerich Company is a fully integrated, self-administered, and self-managed real estate investment trust. The Company acquires, owns, redevelops, manages, and leases regional and community shopping centers located throughout the United States.

Over the past year, Macerich Cohas traded in a range of $51.01 to $69.73 and are now at $51.10. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.5%.

Macerich Co has overhead space with shares priced $51.10, or 20.1% below the average consensus analyst price target of $63.92. Macerich Co shares should first meet resistance at the 50-day moving average (MA) of $56.86 and find additional resistance at the 200-day MA of $58.33.

SmarTrend recommended that its subscribers protect gains by selling shares of Macerich Co on September 7th, 2018 by issuing a Downtrend alert when the shares were trading at $56.35. Since that call, shares of Macerich Co have fallen 8.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows macerich co

Ticker(s): MAC