Tight Squeeze in American Tower
Most members of the S&P 500 closed lower on Friday. Today we’re looking at one of the gainers: American Tower.
A few interesting patterns appear on this daily chart of the wireless-tower operator.
First is the narrowing consolidation between the 50-day simple moving average (SMA) and 200-day SMA. Bollinger Band Width has tightened to its closest range since August. Does that create the potential for a breakout?
Second, prices showed signs of escaping the range by closing above a falling trendline on Friday.
Next, consider how AMT made a higher low in mid-June despite the broader market hitting a new 52-week low. That’s a potential sign of relative strength.
Fourth, the 50-day SMA is nearing a potential “golden cross” above the 200-day SMA.
Finally, the broader Real Estate sector could potentially benefit if Treasury yields continue to slide.
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TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. 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, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
A few interesting patterns appear on this daily chart of the wireless-tower operator.
First is the narrowing consolidation between the 50-day simple moving average (SMA) and 200-day SMA. Bollinger Band Width has tightened to its closest range since August. Does that create the potential for a breakout?
Second, prices showed signs of escaping the range by closing above a falling trendline on Friday.
Next, consider how AMT made a higher low in mid-June despite the broader market hitting a new 52-week low. That’s a potential sign of relative strength.
Fourth, the 50-day SMA is nearing a potential “golden cross” above the 200-day SMA.
Finally, the broader Real Estate sector could potentially benefit if Treasury yields continue to slide.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. 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, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
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