1AMT trade ideas
Nose Diving To New Support LevelThree bearish days with all oscillators & indicators down. Large sell-off.
$amt negative divergences and descending trianglehigher time frame is showing negative divergence in rsi
intermediate time frame is showing distribution and no conviction in buying pressure and forming a descending triangle further supporting higher time frame alignment
lower time frame is showing a downtrend breaking below support and retesting on pullback
will look to enter on 130.2x area for a move down to 129.3x area as first target and break lower to the 125.18 which coincides with the higher timeframe
Sideways into EarningsWould like to see it get sideways, then drop into earnings. Potential targets listed below.
AMT-Short at the break of $103.33 to $87.23Date First Found - November 15, 2016
Pattern/Why- breakdown of trend line and up channel,
Entry Target Criteria- below $103.33 (hit November 15, 2016)
Exit Target Criteria- $87.23
Stop Loss Criteria- $108.27
Indicator Notes- big drop in Twiggs Money Flow
AMT - Earnings likely catalyst for breakout.Previously posted twice on American Tower, both pointing to short opportunities in the price channel AMT has been in.
Well the price behavior is changing and anticipation of earnings may be the catalyst. Note the pops AMT has had at the last 4 earnings reports? Each a long green candle. Also notice that AMT has not visited the bottom of the price channel two times now and is on trend to miss a third after today's session.
Odds go to the earnings behavior. Long.
Shorting AMT - is this your zombie trade?The channel is acting like a channel and AMT is back to the top of it with no material difference in the RSI or cycle envelope since the last time...
Did fail to tag the bottom of the channel bit it has done that before.
