American Tower Corp saw a welcome improvement to its Relative Strength (RS) Rating on Wednesday, rising from 80 to 88.
As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength.
This exclusive rating from Investor's Business Daily measures price movement with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the last 52 weeks holds up against all the other stocks in our database.
Decades of market research shows that the best stocks often have an 80 or higher RS Rating in the early stages of their moves.
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Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock is able to establish and enter a buying range in heavy volume. Remember, the previous two patterns ultimately failed. Since it did not undercut the low of the previous cup with handle, technically, a pivot point could be $269.14.
The company showed 4% earnings growth last quarter, while sales growth came in at 0%.
The company holds the No. 1 rank among its peers in the Finance-Property REITs industry group.
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