American Tower may fall to 204.00 - 208.20

Our pivot point is at 231.9.

Our preference

Under pressure below 231.9.

Alternative scenario

The upside breakout of 231.9 would call for 239.6 and 243.9.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the share stands below its 20 and 50 day moving average (respectively at 234.9485 and 228.6614). Finally, American Tower is trading below its lower daily Bollinger band (standing at 225.95).

Supports and resistances

243.9 **

239.6 *

231.9 **

228.9

223.66 (USD-last)

212.6

208.2 **

204 *

199.6 **

Number of asterisks represents the strength of support and resistance levels.