American Tower Corporation Stock Forecast

American Tower Corporation stock upgraded from Sell Candidate to Buy Candidate after Wednesday trading session.
(Updated on Jul 03, 2024)

0HEU.L Signals & Forecast

A sell signal was issued from a pivot top point on Tuesday, June 04, 2024, and so far it has fallen -2.46%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. Some positive signals were issued as well, and these may have some influence on the near short-term development. The American Tower Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $193.18 and $193.49. A breakdown below any of these levels will issue sell signals.

Support, Risk & Stop-loss for American Tower Corporation stock

American Tower Corporation finds support from accumulated volume at $193.27 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $2.16 between high and low, or 1.12%. For the last week the stock has had daily average volatility of 1.25%

Our recommended stop-loss: $184.81 (-5.11%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 51 days ago.)

Trading Expectations (0HEU.L) For The Upcoming Trading Day Of Thursday 4th

For the upcoming trading day on Thursday, 4th we expect American Tower Corporation to open at $194.10, and during the day (based on 14 day Average True Range), to move between $191.54 and $197.98, which gives a possible trading interval of +/-$3.22 (+/-1.66%) up or down from last closing price. If American Tower Corporation takes out the full calculated possible swing range there will be an estimated 3.31% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $195.91 (0.59%) than the support at $193.27 (0.77%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is American Tower Corporation stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 2.608 Buy Candidate Upgraded

Predicted Opening Price for American Tower Corporation of Thursday, July 4, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.