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.
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.