American Tower may fall to 200.50 - 204.60

Our pivot point is at 226.8.

Our preference

The downside prevails as long as 226.8 is resistance.

Alternative scenario

The upside breakout of 226.8 would call for 233.7 and 237.9.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 231.3915 and 228.946). Finally, American Tower has penetrated its lower daily Bollinger band (218.62).

Supports and resistances

237.9 **

233.7 *

226.8 **

224.2

217.9 (USD-last)

208.5

204.6 **

200.5 *

196.6 **

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