TradersHuddle Scanner - High Volume For American Tower

Published on Tuesday, 20 July 2010 11:45 Written by Christian Paolinetti

New York, July 20th (TradersHuddle.com) - Unusual high volume detected on shares of American Tower Corporation (NYSE:AMT), early in the trading session. American Tower is currently trading higher by 4.24%, so definitely the buyers stepping in, as the stock's volume is on pace to break its average.

American Tower Corporation (NYSE:AMT) owns, operates, and develops wireless communications and broadcast towers in the United States. The Company leases antennae sites on multi-tenant towers for a diverse range of wireless communications industries. American Tower also offers a variety of network development services.

American Tower has already traded 0.776 times its 3-month average volume, and has calculated support and resistance at $43.26 and $47.21 respectively. Traders like to use volume as their lie detector for price action moves through predefined trading ranges.

The overall market index S&P 500 is trading lower by -0.29% from its previous trading close, which means that American Tower stock is outperforming the overall market.