Free stock pick for 12/14/2010
American Tower Corp. (NYSE:AMT)-short
AMT form weekly rounding high pattern and $50 is bigger number and price support area. If will be broken I think that AMT is ready for more correction and monthly CCI divergence can help it. Also right now AMT is at 20sma weekly support area. After possible setup I will expect to see stronger selling pace and bigger volume at start.
Earnings growth in the past year is holding steady compared to earnings growth in the past three years (neutral). One or more analysts have modestly increased quarterly earnings estimates for AMT (positive). The price-to-earnings multiple is higher than the average (negative).
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.