AMT American Tower Monthly Chart; Overbot; Rising Wedge; Negative Divergence; Upper Band Violation

The AMT monthly chart indicates that American Tower will tumble like the Tower of Babel. Look at the obscene gains in AMT since it was down at 20 in 2009. Wow. From 20 to 170 is a +750% gain in a decade an 8-bagger. Very impressive. Communications towers have connected the world.

The decade-long party is coming to an end. The punch bowl is dry. Cousin Larry is puking in the bushes at the side of the house. Meghan is passed out on the couch. Johnny swigs down the last sip of beer in his red solo cup but discovers a cigarette butt at the bottom; he runs outside quickly. The American Tower party was epic and will be the talk of the town for many years.

Everybody and his brother are long AMT and no one is worried or has a concern that the stock will ever go down. Investors proclaim that American Tower is bullet-proof. They say AMT has grown to the sky and will flourish even higher. The chart says otherwise.

AMT is printing a multi-month and multi-year top right now. If you were one of the fortunate souls that made lots of dough, exit stage right. The stock should be sold right away and shorts can be scaled-into, say, once per week going forward. The upper band violation places the middle band at 143 on the table so that is about 20 below the current price and looks easily doable. Price may seek the lower band at 124. That may just be for starters.

AMT has had strong momo for many years so that makes you hesitate slightly about shorting it, however, the monthly chart is toast. Keystone does not hold a position in AMT currently but will short it on the bounces going forward as described. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.