Tight Squeeze in American Tower

NYSE:AMT   American Tower Corporation (REIT)
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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