Resistance

Daily

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>AMT stock price has been in a downtrend over the past few sessions.</a> </li> 
 <li> <span>2</span> <a>Bears seem aggressive and persist in making short positions.</a> </li> 
</ul> 
<p>American Tower Corporation (AMT stock) price shows a decline as the stock continues to shed gains over the past few trading sessions. Moreover, the chart structure shows a falling wedge pattern, and continues to form lower lows sequences, indicating seller dominance. Furthermore, the price action favors the bears and shows follow-on selling pressure. The price is hovering near the crucial support zone at $180.</p> 
<p>AMT stock is now trading below significant moving averages and is close to the support range, where buyers are attempting a rebound to rescue the initial gains and retain the gains. Furthermore, the technicals suggest that if the price breaks the cluster of $175, a sharp fall may be seen toward $150 soon. Conversely, if the price sustains near $180, a rebound can be anticipated toward $190. However, the bulls are losing their grip, and sellers have attained strength, resulting in a continuous decline for the past sessions.</p> 
<p>At press time, AMT stock price is trading at $178.01 with an intraday drop of 1.34%, showing bearishness on the charts. Furthermore, the trading volume increased by 2.89% to 2.331 Million, while the market cap is $84.104 Billion. However, analysts maintained a buy rating with a yearly target price of $231.73, suggesting a strong growth outlook for the upcoming sessions.</p> 
<p>American Tower Corp. provides real estate investment services and owns, operates, and develops multi-tenant real estate properties. It offers space leasing on communications sites to wireless service providers, radio and television broadcast companies. It operates through the following segments: U.S. and Canada, Asia-Pacific, Africa, Europe, Latin America, and Data Centers. The company was founded in 1995 and is headquartered in Boston, MA.</p> 
<h2 class="wp-block-heading" id="strong-amt-stock-price-action-shows-bearishness-on-daily-charts-strong"><strong>AMT Stock Price Action Shows Bearishness On Daily Charts</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" loading="lazy" width="1600" height="725" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-146.png" alt="AMT Stock Price Near Demand Zone, Is AMT An Ideal Pick Now?" class="wp-image-165737" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-146.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-146-300x136.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-146-1024x464.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-146-768x348.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-146-1536x696.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-146-750x340.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-146-1140x517.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   Source: AMT Stock Price Chart At TradingView
  </figcaption>
 </figure>
</div> 
<p>On the daily charts, AMT <a href="https://www.thecoinrepublic.com/2023/08/26/uber-technologies-uber-stock-will-sell-off-continue/" target="_blank" rel="noreferrer noopener">stock price</a> has been losing gains since the start of 2023, and is now headed to the support zone of $175. Moreover, the price is trading below the 38.2% Fib zone and close to the lower Bollinger band, showing a bearish chart structure.</p> 
<p>The RSI curve stayed near neutrality and showed bearish divergence, suggesting a negative crossover on the charts.&nbsp;</p> 
<p>The MACD indicator shows a bullish crossover and formed green bars on the histogram, suggesting a pause if bulls attain strength. A bounce can be seen.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>AMT stock price shows a downtrend and is persisting in losing the gains, hovering near the crucial support zone at $180. Moreover, the price action shows a short buildup activity. Sellers have maintained their strength, dominating the battle for the past trading sessions. Furthermore, the chart structure suggests follow-up selling led the stock toward $160.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support Levels: $170 and $155</p> 
<p>Resistance Levels: $185 and $200</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author or any people named in this article are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.</p>

AMT Stock Price Near Demand Zone, Is AMT An Ideal Pick Now?

Table of Contents

Thecoinrepublic.com

Other articles published on Sep 7, 2023

Grab introduces web3 services, partners with MAS for NFT vouchers

COP Stock (NYSE: COP) Dangles Near $125, Has the Selloff Begun?

Crypto Market in Q4 2023 Looking Strong as These 3 Tokens Are Set To Go 10x

Industry Leaders Announce Groundbreaking Tokenized Asset Coalition

Cardano’s Price Stuck As Bulls And Bears Battle For Control

Jay-Z and Jack Dorsey’s firm expands to foster Bitcoin talent in Africa

Join our free newsletter for daily crypto updates!