American Tower (AMT) has traded in a wide range over the last year. However, this week starts off with a fresh kick to new highs. The SCTR ranking is pushing up to 86 which I like. The relative strength broke to new highs.
The MACD has lots of separation which makes the momentum very strong at this point.
If it can't stay above $100, I'd move on to a new ticker, but this looks good here.
Good trading,
Greg Schnell, CMT
About the author:
Greg Schnell, CMT, MFTA is Chief Technical Analyst at Osprey Strategic specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA).
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