My WT Cross Strategy has alerted me to a buy signal for AMERICAN TOWER. ( AMT ), at a price of $147.68 using a 180-min time frame. My idea is to buy the dip, at price below $147.68. I will update when I get the signal to close the trade.
I am using the following parameters for this trade:
Channel Length - 1100
Average Length - 1
Average Length2 - 17
This daily chart of AMT presents a good opportunity to get long ahead of a breakout higher. The stock looks to be in Wave 4 of an impulsive move that began back in 2016. Wave 3 extended to the 161.8% Fibonacci extension of Wave 1 and clearly divides into five smaller waves. We're now looking for the ongoing triangle in Wave 4 (blue) to complete somewhere in the...
This daily chart of AMT shows a clean impulsive move higher with the stock currently trading sideways in a wave 4 triangle. Good alternation between waves 2 and 4 supports the bullish outlook. It's also worth noting that wave 3 was a perfect 161.8% Fibonacci extension of wave 1, which is a common ratio for an extended third wave. Initiating a long position at 141...
higher time frame is showing negative divergence in rsi
intermediate time frame is showing distribution and no conviction in buying pressure and forming a descending triangle further supporting higher time frame alignment
lower time frame is showing a downtrend breaking below support and retesting on pullback
will look to enter on 130.2x area for a move down to...
Date First Found - November 15, 2016
Pattern/Why- breakdown of trend line and up channel,
Entry Target Criteria- below $103.33 (hit November 15, 2016)
Exit Target Criteria- $87.23
Stop Loss Criteria- $108.27
Indicator Notes- big drop in Twiggs Money Flow