During the Lightning Round segment of Mad Money Monday night one caller asked Jim Cramer about American Tower Corp. (AMT) . Cramer replied, "I'm concerned. I liked the old CEO and I don't know the new CEO."
Let's check out the charts and indicators of this leading owner, operator and developer of wireless and broadcast communications real estate.
In the daily bar chart of AMT, below, we can see that while the shares were weak in March and early April, the bigger picture is that prices have maintained an uptrend. A pullback in May held the rising 200-day moving average line. AMT is trading above the rising 50-day moving average line.
The On-Balance-Volume (OBV) line made a low in March and a successful retest in May. Overall the OBV line tells us that there has been some more aggressive buying. The MACD oscillator is bullish but poised for a turn up or down depending on the price action ahead.