American Tower could regain its upward trend after having run out of steam.
According to Surperformance ratings, the group has strong fundamentals, both in terms of business predictability and valuation. In addition, analysts have recently revised upward their earnings estimates and now expect a profit of USD 1.69 per share for the current year.
American Tower Corp is in an uptrend in the medium and long term, but the last bearish movement returns close to a major pivot point. This threshold, if preserved, will enable to enjoy the bullish movement.
In this configuration, a decrease below USD 75 area seems unavoidable. Investors could take a buy order on this level and get a good entry point with a stop below the medium term support.
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