Real Estate Trust ($MAA) Should See More Downside. But Why?

Hello Everyone! In today’s article, we will look at the Elliott Wave path of Real Estate Investment Trust ($MAA) and explain why it can be telling us that more downside is coming for the Real Estate sector in the near term.

Mid-America Apartment Communities (MAA) is a publicly traded real estate investment trust based in Memphis, Tennessee. It invests in apartments in the Southeastern and the Southwestern United States. As of December 31, 2020, the company owned 300 apartment communities containing 100,490 apartment units. It is the largest owner of apartments in the United States and the 7th largest apartment property manager in the United States.

$MAA (Real Estate) Daily Elliott Wave Analysis Aril 3rd 2023:


The Daily chart above shows the cycle from December 2021 peak unfold in a double three corrective structure (WXY) to correct against March 2020 lows. There is 5 swings coming from the peak up until October 2022 lows. Corrections end in 3, 7 or 11 swings. That is an incomplete bearish sequence. The bounce in blue (B) unfolded in 3 swings and failed on 2.09.2023 peak at $176.36. The reaction lower broke below October 2022 lows and is now showing a bearish sequence against 2.09.2023 peak at $176.36. So far, the sell off found buyers at red 1 and has ended the cycle from Feb 9th 2023. The bounce in red 2 unfolded in 3 swings and is sitting at an extreme area where a reaction is expected to happen. Once the 2 is in place, we expect $MAA to trade lower towards the Blue Box area at 116.99 – 99.72 where a reaction higher can take place.

If you’ve been following EWF for a while, then you should know our motto by now which is: We like to buy dips in 3, 7 or 11 swings into blue boxes. That is 7 swing pullback into a Blue Box area. Ideally, we would like to see a reaction higher and a break above $176.36 and eventually all time highs in the next few years.