Crown Castle Likely Headed for Higher Ground

Crown Castle International Corp. (CCI) broke out from a consolidation pattern last month and remains in an uptrend. Let's see where prices may be headed for the real estate investment trust that owns wireless infrastructure and what risk points we need to be aware of in the weeks ahead.

In this daily bar chart of CCI, below, we can see that CCI has made a good rally from a small bottom in November. Prices rose with only small dips up to an early June high around $104. Prices declined in June and July, breaking below the rising 50-day moving average line and getting very close to the rising 200-day line. From a brief low below $94 CCI has rallied back to new highs. The daily On-Balance-Volume (OBV) line improved from mid-November until early June. June and half of July saw a correction and more aggressive selling from sellers of CCI, but the buyers of CCI came back in force from the middle of July. The daily momentum study in the lower panel does not show any bearish divergences....158 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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