Trade Alert - Crown Castle at New Highs

Published on Friday, 15 June 2012 13:34 Written by TradersHuddle Wire

New York, June 15th (TradersHuddle.com) - Shares of Crown Castle International Corp. (NYSE:CCI) booked a new 52 week high today by trading above $57.78, traders are definitely monitoring Crown Castle's price action to see if this move attracts further buying into the stock.

Crown Castle International Corp. (NYSE:CCI) owns, operates, and leases towers and other communication structures for wireless communications. Crown Castle offers significant wireless communications coverage to 91 of the top 100 US markets and to substantially all of the Australian population.

Crown Castle is currently trading 0.61% versus its previous trading session close, and it has calculated support and resistance at $52.58 and $56.89 respectively. Clearly, with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range.

The overall market index S&P 500 is trading higher by 0.61% from its previous trading close, which means that Crown Castle stock is underperforming the overall market.