Macerich Co (NYSE: MAC)

The Macerich Company is an independent real estate investment trust. The firm invests in the real estate markets of the United States. It primarily engages in acquisition, ownership, development, redevelopment, management and leasing of regional and community shopping centers located throughout the United States. The Macerich Company was founded in 1964 and is headquartered in Santa Monica, California.
Please take a look at the 1-year chart of MAC (The Macerich Company) below with my added notations:

MAC had been trading in mostly a sideways range from September through November. Several times over that period the stock also formed a key resistance level at around $60 (blue). That $60 level has also been support or resistance several times previously. Last week MAC finally broke up out of its range and above that important $60 level. The stock should be moving overall higher from here.

The Tale of the Tape: MAC had a key level of resistance at $60 that should now act as support on any pullbacks. A long trade could be entered on a pullback to $60 with a stop placed below that level. A break back below $60 could negate the forecast for a move higher.
Please share this article