The Greedy Trader Weekly Analysis
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Yearly Pattern:Rising Channel
Number of records: 10
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Channeling Stock - rising channel and falling channel.

Stock channeling technique is one of the most efficient and widely used trading technique. Price channel represents price movement bound by parallel lower (support) and upper (resistance) trend lines. Channels with rising trend lines (rising channel) are considered bullish and the falling channel is considered as bearish . Channels are continuation formations as far as support and resistance are not broken.
Trading technique:
# 1
Buy channeling stock on support and sell on resistance.
# 2 For bullish channel: sell channeling stock when price breakes the stock channeling support line. For bearish channel: buy channeling stock when price breaks the resistance line.
Tips:
# 1 For the best results, stock channeling should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance line.

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- 3/15/2024 -
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American Tower Corp. (AMT) Technical Analysis

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Summary:
Weekly :
Daily :Broken trend support lineStochastic has declined below the signal lineThe price has fallen below the Parabolic SARPrice has crossed below the 50 Day Moving AverageThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the American Tower Corp. (AMT). During the week, the AMT dropped -9.97 points, or -4.81%, and closed at 197.34 on Friday, March 15, 2024. Weekly volume was -9% below average.

Long-term trend: [See AMT long-term trend chart]
A long-term downtrend had started on September 8, 2021 at 303.72 and reached 154.58 on October 6, 2023. AMT lost 149.14 points, or 49.10%, in 108 weeks. The price is now at the 28.67% retracement level.

Medium-term trend: [See AMT medium-term trend chart]
A medium-term downtrend had started on January 2, 2024 at 219.10 and reached 181.16 on February 27, 2024. AMT lost 37.94 points, or 17.32%, in 8 weeks. The price is now at the 42.65% retracement level.

Weekly Technical Indicators: [See AMT weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since February 9, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See AMT short-term trend chart]
A short-term uptrend had started on February 27, 2024 at 181.16 and reached 209.61 on March 5, 2024. AMT gained -28.45 points, or -15.70%, in 7 days. The chart has formed a Ascending Triangle chart pattern. The uptrend support line (223.21) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a short-term trend.

Daily Technical Indicators: [See AMT daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since February 22, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 63.49
Williams' Percentage Range (W%R) 49.30
Lane's Stochastic (%D-Slow) 46.56
Greed/Fear Indicator (GFI) 53.58
Moving Average Converg./Diverg. (MACD) 1.51
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.51
Williams' Percentage Range (W%R) 38.00
Lane's Stochastic (%D-Slow) 37.49
Greed/Fear Indicator (GFI) 47.98
Moving Average Converg./Diverg. (MACD) 2.76
Trading Signals
Description Value Chart
Weekly Trendline Support 223.21
Upper Bollinger Band 214.89
Parabolic System 209.24
Weekly Trendline Resistance 208.41
Daily Stochastic Crossing 200.32
50 Day Moving Average 199.16
20 Day Moving Average 197.49
Price 197.34
Weekly Stochastic Crossing 193.44
Lower Bollinger Band 184.09
Sector and Industry
Description Name Rank
Sector Real Estate 3
Industry Specialized REITs 33
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 209.61
High Date 03/05/2024
Low 195.28
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Ascending Triangle
Status Broken Support
Resistance 208.41
Support 223.21
Low 181.16
Low Date 02/27/2024
High 209.61
High Date 03/05/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 219.10
High Date 01/02/2024
Low 181.16
Low Date 02/27/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 154.58
Low Date 10/06/2023
High 219.10
High Date 01/02/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 303.72
High Date 09/08/2021
Low 154.58
Low Date 10/06/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.