Pullback in American Tower
American Tower spent most of 2024 underwater, but it’s shown signs of revival in recent weeks.
The first pattern on today’s chart is the pair of bullish gaps on July 11 and July 30. The first followed the lower-than-expected inflation report, which spurred hopes of rate cuts. The second followed strong earnings, revenue and guidance. Those jumps may reflect improving sentiment.
The later surge also lifted AMT above its $215.88 closing price at the end of last year. Prices have retraced most of that move but have remained above the old peaks. Holding this area may indicate that new support is established above old resistance.
Third, the 50-day simple moving average (SMA) had a “golden cross” above the 200-day SMA. That may suggest a longer-term uptrend is taking shape.
Finally, the wireless-tower company’s 8-day exponential moving average (EMA) is above its 21-day EMA. That may be consistent with a shorter-term uptrend.
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The first pattern on today’s chart is the pair of bullish gaps on July 11 and July 30. The first followed the lower-than-expected inflation report, which spurred hopes of rate cuts. The second followed strong earnings, revenue and guidance. Those jumps may reflect improving sentiment.
The later surge also lifted AMT above its $215.88 closing price at the end of last year. Prices have retraced most of that move but have remained above the old peaks. Holding this area may indicate that new support is established above old resistance.
Third, the 50-day simple moving average (SMA) had a “golden cross” above the 200-day SMA. That may suggest a longer-term uptrend is taking shape.
Finally, the wireless-tower company’s 8-day exponential moving average (EMA) is above its 21-day EMA. That may be consistent with a shorter-term uptrend.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. See our Overview for more.
Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at https://www.TradeStation.com/DisclosureOptions. Before trading any asset class, customers must read the relevant risk disclosure statements on https://www.TradeStation.com/Important-Information/. System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges.
TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit https://www.TradeStation.com/DisclosureTSCompanies for further important information explaining what this means.
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