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Inside The PPT, the Ragin’ Cajun designed a screen that automatically detects stocks showing unusual strength that are near their 52 week highs. The list tonight offers several attractive setups. One aspect of tonight’s reading that sticks out to me is that the triumvirate of cell phone towers are on the list: $SBAC, $CCI and $AMT.
Note that the cell phone tower space is an area that hedge funds have recently become infatuated with. If they decide to get back into the market in an overweight equities position, then I would expect these three names to move, and move fast.
Like many other stocks, their daily charts have been sideways-to-down over the course of the past few months. All three experienced huge spikes higher today on very strong volume. For the purposes of getting a bigger picture perspective, I am going to show you their weekly charts, which should illustrate that they have been in bullish consolidation phases over the past few months.
I currently have no positions in any of them, but will be stalking.
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All look great.
PPT Blueprint FTW.
I like AMT the best. I’ll have to add it to my watch list.
Congrats with the $NR Chess. Awesome pick!