SBA COMMUNICATIONS - 1H - Technical analysis published on 08/01/2024 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
72%
0%
28%
My opinion
Bullish above 221.58 USD
My targets
237.33 USD (+4.96%)
243.99 USD (+7.90%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on SBA COMMUNICATIONS as long as the price remains well above 221.58 USD. The buyers' bullish objective is set at 237.33 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 243.99 USD. If there is any crossing, the next objective would be the resistance located at 253.37 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
8.4
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Additional analysis
Quotes
The SBA COMMUNICATIONS price is 226.12 USD. On the day, this instrument gained +3.00% and was between 219.34 USD and 226.35 USD. This implies that the price is at +3.09% from its lowest and at -0.10% from its highest.219.34
226.35
226.12
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of SBA COMMUNICATIONS in 1H shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 13 technical indicators on 18 studied are currently positioned bullish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 204.57 | 217.16 | 221.58 | 226.12 | 237.33 | 243.99 | 253.37 |
| Change (%) | -9.53% | -3.96% | -2.01% | - | +4.96% | +7.90% | +12.05% |
| Change | -21.55 | -8.96 | -4.54 | - | +11.21 | +17.87 | +27.25 |
| Level | Minor | Major | Intermediate | - | Minor | Minor | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 212.37 | 215.13 | 217.33 | 220.09 | 222.29 | 225.05 | 227.25 |
| Camarilla | 218.18 | 218.63 | 219.09 | 219.54 | 220.00 | 220.45 | 220.90 |
| Woodie | 212.10 | 214.99 | 217.06 | 219.95 | 222.02 | 224.91 | 226.98 |
| Fibonacci | 215.13 | 217.02 | 218.19 | 220.09 | 221.98 | 223.15 | 225.05 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 196.50 | 200.54 | 207.62 | 211.66 | 218.74 | 222.78 | 229.86 |
| Camarilla | 211.65 | 212.67 | 213.69 | 214.71 | 215.73 | 216.75 | 217.77 |
| Woodie | 198.03 | 201.30 | 209.15 | 212.42 | 220.27 | 223.54 | 231.39 |
| Fibonacci | 200.54 | 204.79 | 207.41 | 211.66 | 215.91 | 218.53 | 222.78 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 161.01 | 174.03 | 196.79 | 209.81 | 232.57 | 245.59 | 268.35 |
| Camarilla | 209.70 | 212.98 | 216.26 | 219.54 | 222.82 | 226.10 | 229.38 |
| Woodie | 165.87 | 176.47 | 201.65 | 212.25 | 237.43 | 248.03 | 273.21 |
| Fibonacci | 174.03 | 187.70 | 196.15 | 209.81 | 223.48 | 231.93 | 245.59 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 68.11 | |
| MACD (12,26,9): | 2.7500 | |
| Directional Movement: | 9.91 | |
| AROON (14): | 85.71 | |
| DEMA (21): | 225.33 | |
| Parabolic SAR (0,02-0,02-0,2): | 223.01 | |
| Elder Ray (13): | 2.05 | |
| Super Trend (3,10): | 218.86 | |
| Zig ZAG (10): | 225.36 | |
| VORTEX (21): | 1.1500 | |
| Stochastique (14,3,5): | 90.92 | |
| TEMA (21): | 226.15 | |
| Williams %R (14): | -11.28 | |
| Chande Momentum Oscillator (20): | 5.04 | |
| Repulse (5,40,3): | 0.5800 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1700 | |
| Courbe Coppock: | 5.58 |
| MA7: | 216.01 | |
| MA20: | 209.20 | |
| MA50: | 199.73 | |
| MA100: | 202.00 | |
| MAexp7: | 224.60 | |
| MAexp20: | 221.71 | |
| MAexp50: | 217.45 | |
| MAexp100: | 213.01 | |
| Price / MA7: | +4.68% | |
| Price / MA20: | +8.09% | |
| Price / MA50: | +13.21% | |
| Price / MA100: | +11.94% | |
| Price / MAexp7: | +0.68% | |
| Price / MAexp20: | +1.99% | |
| Price / MAexp50: | +3.99% | |
| Price / MAexp100: | +6.15% |
Quotes :
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15 min delayed data
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NASDAQ Stocks
News
Don't forget to follow the news on SBA COMMUNICATIONS. At the time of publication of this analysis, the latest news was as follows:
- SBA Communications Corporation to Speak at the Goldman Sachs 2023 Communacopia + Technology Conference
- SBA Communications Corporation Reports Second Quarter 2023 Results; Updates Full Year 2023 Outlook; Declares Quarterly Cash Dividend; and Announces Newly Signed Master Lease Agreement with AT&T
- SBA Communications Corporation Sets Date for Second Quarter 2023 Earnings Release
- SBA Communications Corporation to Speak at the JP Morgan 51st Annual Global Technology, Media and Communications Conference
- SBA Communications Corporation to Speak at the MoffettNathanson Inaugural Technology, Media and Telecom Conference
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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