American Tower Corp (AMT) Tenkan Sitting Below Kijun
Shares of American Tower Corp (AMT) are on watch as the Tenkan Line has moved below the Kijun line, indicating negative momentum for the equity. American Tower Corp moved -0.29 in the most recent session and touched 226.28 on a recent tick.
The Tenkan Line or Tenkan Sen (Sen means line in Japanese) is known as the conversion line or turning line is similar to a 9SMA but actually is quite different. Remember a SMA (simple moving average) will smooth out all the data and make it equal but the Tenkan Line will take the highest high and lowest low over the last 9 periods. The explanation for this is Hosada felt price action and its extremes were more important than smoothing any data because price action represented where buyers/sellers entered and directed the market, thus being more im ...