Today we have a brief recommendation from Shortex Market Letter Editor Joseph
Parnes.
“American Tower Corp. (AMT, NYSE)—The owner/operator of wireless/
broadcast communications infrastructure sites enjoys robust revenue growth,
expanding profit margins and notable return on equity. [AMT has been] ascending
since end-March [but was recently] subjected to correction/retraction. Primary
support [is] at 79-81, secondary support at 76-78. Accumulation/distribution
on the positive mode. Volatile. Buying Range: 78-82, Near-Term Objective: 92,
Intermediate-Term Objective: 101, Stop Loss: 74.”
Joseph Parnes, Shortex Market Letter, www.shortex.com, 800-877-6555, 5/29/13