In the fast-paced and always lively "Lightning Round" of the Mad Money program Thursday night on CNBC, one caller asked Jim Cramer about Crown Castle International Inc. (CCI) . "The cell tower stocks are working," commented Cramer before he jumped to another call.
Let's check out the charts and indicators of CCI.
In the daily bar chart of CCI, below, we can see an uptrend from June -- higher lows and higher highs. Prices are now above the rising 50-day moving average line and the rising/bullish 200-day simple moving average line.
Trading has diminished over the past two months but the daily On-Balance-Volume (OBV) line has been in a rally mode from May. The Moving Average Convergence Divergence (MACD) oscillator crossed the zero line in late January for an outright go long signal and we recently saw this oscillator turn lower to a "take profits" sell signal or a sell in an uptrend.
In the weekly bar chart of CCI, below, we can see that prices have been in an uptrend from the tail end of 2016. Prices have made new highs this year and CCI is above the rising 40-week moving average line.
The weekly OBV line has largely moved sideways since last March but shows some improvement two months into this year. The weekly MACD oscillator is in a bullish setup above the zero line.
In this Point and Figure chart of CCI, below, we can see the upside breakout at $116.52 and the potential longer-term price target of $151.32.
Bottom-line strategy: CCI looks like it is positioned for further gains. Traders could approach CCI from the long side at current levels risking a close below $115. The $150 area is our potential price target.