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Macerich Enters Oversold Territory with Low RSI Reading

Macerich Co sees RSI drop to 29.4, indicating oversold conditions. Investors may find buying opportunities as heavy selling shows signs of exhausting.

Date: 
AI Rating:   6

Stock Performance Analysis

Macerich Co (MAC) has recently entered oversold territory with a Relative Strength Index (RSI) of 29.4, suggesting that the stock may have experienced significant selling pressure. The current trading price at $16.56 is below its 52-week range's low of $12.99, and while there is a considerable gap to its 52-week high of $22.27, the recent RSI reading indicates a potential for recovery.

Investors often consider an RSI below 30 as a signal that the stock may be oversold, providing a possible buying opportunity. With the S&P 500 ETF (SPY) having an RSI of 36.0, MAC's lower value indicates stronger selling activity or sentiment against it compared to the broader market.