MAA added 3.27%, to $44.83 today. It has a market cap of 1.27 billion and has traded within a 52-week range of $22.22 and $50.58. MAA is currently above its 20-day moving average of $44.03 and above its 250-day moving average of $34.30. It has near-term technical support in the $43.40 price area. If the shares can continue the recent rebound, we see overhead resistance around the $49.87 price levels. Technical indicator for the stock is strong buy. Here is the chart:
I've been actively trading MAA for the past couple of months because it has become so predictable. As of late it seems to hit a wall of resistance when it approaches ~$45/share.
Then again, looking at all the apartment REITS, they all seem to have topped. Here's what I have noticed with the ones I actively follow: BRE can't seem to hit $30 anymore, AVB can't seem to clear $76, CPT can't go over $40 for more than a few moments, PPS can't stay consistently in the mid $17 range, and ESS struggles to get over $79-$80.