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Golden Crosses in Wireless Tower Stocks

NYSE:AMT   American Tower Corporation (REIT)
Wireless-tower stocks have been in long-term uptrends as mobile devices and usage proliferate. American Tower is the largest of the three, followed by Crown Castle International and SBA Communications .

AMT has moved sideways for the last year. It hit an all-time high shortly before the coronavirus crash, quickly rebounded and then drifted sideways. Prices declined once bond yields started rising in September. (Not a surprise because AMT is a REIT.)

The stock had a sharp rebound in March and April, followed by consolidation this month. The most important chart pattern is the 50-day simple moving average ( SMA ) rising above the 200-day SMA . That’s a “Golden Cross,” a signal that longer-term momentum has turned bullish .

Also notice the $244 area. It was support last June and August, resistance in October and November and now is offering support again.

It’s also noteworthy that CCI already had its golden cross in April and has now broken out to new highs. For SBAC , the signal is on the verge of taking place.

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Crown Castle daily chart:

SBA Communications daily chart:

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