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Recent 52-Week High Exceeded in Shares of American Tower (AMT)

By Amy Schwartz

American Tower (NYSE:AMT) traded today at a new 52-week high of $132.86. So far today approximately 414,000 shares have been exchanged, as compared to an average 30-day volume of 1.8 million shares.

American Tower has overhead space with shares priced $128.11, or 2.2% below the average consensus analyst price target of $131.00. American Tower shares have support at the 50-day moving average (MA) of $101.23 and additional support at the 200-day MA of $96.25.

In the past 52 weeks, shares of American Tower have traded between a low of $83.07 and a high of $132.86 and are now at $128.11, which is 54% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has risen 0.2%.

American Tower Corporation owns, operates, and develops wireless communications and broadcast towers in the United States. The Company leases antennae sites on multi-tenant towers for a diverse range of wireless communications industries, including personal communications services, paging, and cellular. American Tower also offers a variety of network development services.

SmarTrend recommended that subscribers consider buying shares of American Tower on February 16th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $107.41. Since that recommendation, shares of American Tower have risen 19.2%. We continue to monitor AMT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows American Tower

Ticker(s): AMT