American Campus Communities, Inc. (NYSE: ACC)

American Campus Communities, Inc. is an independent equity real estate investment trust. The firm invests in the real estate markets of the United States. It primarily engages in developing, owning, and managing high-quality student housing communities. The firm diversifies its functions across acquisition, design, financing, development, construction management, leasing and management of student housing properties. American Campus Communities, Inc. was formed in 1993 and is based in Austin, Texas.
To review American's stock, please take a look at the 1-year chart of ACC (American Campus Communities, Inc.) below with my added notations:
After a January to September sell-off, ACC has been trading sideways for the last 3 months. Over that period of time, the stock has formed a clear resistance level at $37 (red). In addition, the stock has also created a good level of support at $33 (blue). These two levels combined have ACC stuck within a common chart pattern known as a rectangle, and at some point the stock will have to break one of those levels.

The Tale of the Tape: ACC has created a common rectangle pattern. The possible long positions on the stock would be either on a pullback to $33, or on a breakout above $37. The ideal short opportunities would be on a break below $33 or on a rally up to $37.
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