Macerich (MAC)- Bearish DailyPlay – Feb 28th, 2019
Bearish – MAC $ 42.86 – Real Estate
The bearish DailyPlay we chose for Thursday, Feb 28th is Macerich (MAC). MAC is part of the Real Estate Sector (XLRE). XLRE has rallied 3.44% higher over the past month but its 1m trend turned neutral yesterday and has failed to break above its $35 resistance level while pulling back.
Macerich’s 1m and 6m trends turned bearish on Feb 4th and broke below its $44 support level which is now resistance. With a technical score of 2 (out of 10), MAC is a bearish stock that will likely trend lower.
As a stop loss, if MAC was to trade above $44 for multiple days, this would invalidate our analysis and suggest getting out of the trade.