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Possible Bearish Inside Day Candle Pattern Detected for Mid-America Apar (NYSE:MAA)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Mid-America Apar (NYSE:MAA) based on the price action in the company's shares. Today's price range of $108.05 and $108.05 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Mid-America Apar may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, shares of Mid-America Apar have traded between a low of $86.61 and a high of $108.29 and are now at $108.05, which is 25% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has risen 0.3%.

Mid-America Apar (NYSE:MAA) defies analysts with a current price ($108.05) 5.1% above its average consensus price target of $102.57. Mid-America Apar shares have support at the 50-day moving average (MA) of $101.67 and additional support at the 200-day MA of $100.15.

Mid-America Apartment Communities, Inc. is a self-administered and self-managed real estate investment trust which owns, develops, acquires, and operates multi family apartment communities in the southeast and midwest United States and Texas. In addition, the Company conducts third party property management, development, and construction activities through its service corporation.

SmarTrend recommended that subscribers consider buying shares of Mid-America Apar on January 17th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $99.71. Since that recommendation, shares of Mid-America Apar have risen 8.6%. We continue to monitor MAA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle mid-america apar

Ticker(s): MAA