Crown Castle (CCI) reports after the close today, but bulls on the stock haven't been waiting.
Prices peaked at the beginning of this year and have been crossing back and forth around the declining 50-day moving average. The 50-day average has begun to flatten out as prices have rallied the past three to four weeks. The On-Balance-Volume (OBV) line is slowly inching up and the trend following the Moving Average Convergence Divergence (MACD) oscillator has moved above the zero line.
In the longer-term chart above, we can see that prices have rallied back to the underside of the 40-week, 200-day, moving average. The weekly OBV line looks like it has made a new high before prices have made a new high. Also, the MACD oscillator is crossing from below zero -- a signal to cover shorts or go long depending on how you have decided to use it. If CCI can overcome the chart resistance in the $86-$89 area we should see the start of a new leg higher.