U.S - American Tower Corporation【NYSE:AMT】Technical Analysis |
| NYSE:AMT Technical Analysis (Daily Chart) |
This is my first time to analyze U.S securities publicly with others in English. If you see the other posts in this blog, you might notice that every single post was written in Chinese. But it is a good try for me to write the analysis essay in second language in order to improve my English. Lets get started with the text.
In the chart above, we are able to observe that AMT plunged from around $240 to around $212 within few days in early September.It bounced back to the price level 228.40 which was formed as a resistance price level for the current situation and it was also the support price levels for few candles before the debacle occurred.I'm also setting this price level as the short-term target price.
There is 2 major support trend line which can be categorized as Short term and Medium term (Represent as Orange uptrend line and Yellow uptrend line).These two lines are crucial for the price to hold above these to prevent another relative huge price decline which could be estimated to the region between $195 - $200. However as long as these conditions are not satisfied, the assumption made could be neglect and still remain a bull side perspective.
From the technical indicators perspectives,we could discover that recently the Stochastic Oscillator and MACD are showing reversal sign for the current period which are good signs for long position.
There are few points that should be caution especially that the signal line is curving downwards which could affect the potential for long side opportunities as the signal line trend is hard to reverse the movement.It is also important to observe whether that the histogram of MACD indicator start to decrease again because when MACD is below signal line it will lead to a much greater possibilities to that the rebound phase is ended.
Overall,I'm still remain long side perspective for AMT and the breakout of $228 could leads to the price level of $235.
Disclaimer:
This is just a haring of personal experience and I will not have ant responsibilities for the gain or loss on your investment action.
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