During the Lightning Round of the popular Mad Money program Tuesday night one caller inquired about American Tower (AMT) : "This is trading on the T-Mobile US (TMUS) and Sprint (S) merger. I say wait a few days, then buy," said Jim Cramer.
Let's check out the charts of AMT to see what sort of upside might be seen in the months ahead.
In the daily bar chart of AMT, below, we can see that overall prices are in a positive position. AMT successfully tested the rising 200-day moving average line a number of times in November and December. Prices are also above the rising 50-day moving average line.
Trading volume looks like it has been heavier since September and the On-Balance-Volume (OBV) line has strengthened since early November and is not far from making a new high.
The Moving Average Convergence Divergence (MACD) crossed above the zero line in the middle of December for an outright go long signal. The indicator looks like it will now cross to the downside for a take profits sell signal.