• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for American Tower C (NYSE:AMT)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in American Tower C (NYSE:AMT) based on the price action in the company's shares. Yesterday's price range of $245.24 and $247.79 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of American Tower C may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

American Tower C (NYSE:AMT) is currently priced 37.4% above its average consensus analyst price target of $156.71. The stock should find initial support at its 50-day moving average (MA) of $234.27 and further support at its 200-day MA of $225.14.

American Tower Corporation is a real estate investment trust that 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.

In the past 52 weeks, shares of American Tower C have traded between a low of $174.32 and a high of $260.43 and closed yesterday at $250.22, which is 44% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 0.2%.

SmarTrend is tracking the current trend status for American Tower C and will alert subscribers who have AMT in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle american tower c

Ticker(s): AMT