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American Tower Crosses Below its 10-day MA (AMT)

By David Diaz

American Tower (NYSE:AMT) shares have crossed bearishly below their 10-day moving average of $117.15 on a volume of 336K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, American Tower has traded in a range of $83.07 to $118.26 and is now at $116.47, 40% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.4%.

SmarTrend recommended that subscribers consider buying shares of American Tower on February 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $88.92. Since that recommendation, shares of American Tower have risen 32.3%. We continue to monitor AMT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses American Tower

Ticker(s): AMT