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Watch for Continued Losses in Shares of Macerich Co (MAC)

By Nick Russo

Shares of Macerich Co (NYSE:MAC) traded at a new 52-week low today of $29.71. Approximately 455,000 shares have changed hands today, as compared to an average 30-day volume of 1.7 million 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.

Macerich Co (NYSE:MAC) has potential upside of 115.1% based on a current price of $29.71 and analysts' consensus price target of $63.92. The stock should find initial resistance at its 50-day moving average (MA) of $33.35 and further resistance at its 200-day MA of $41.84.

Over the past year, Macerich Cohas traded in a range of $29.71 to $59.22 and are now at $29.71. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 1.1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Macerich Co on February 7th, 2019 by issuing a Downtrend alert when the shares were trading at $42.69. Since that call, shares of Macerich Co have fallen 28.7%. 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