American Tower may rise to 227.60 - 232.10

Our pivot point is at 204.2.

Our preference

The upside prevails as long as 204.2 is support.

Alternative scenario

Below 204.2, expect 196.8 and 192.4.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 204.1315 and 197.7362).

Supports and resistances

236.6 **

232.1 *

227.6 **

223.1

213.72 (USD-last)

207.1

204.2 **

196.8 *

192.4 **

Number of asterisks represents the strength of support and resistance levels.