Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s and global equity indices. The report starts with a review section that highlights the important chart developments on global equity benchmarks. This blog post features from the watchlist section SBA Communications Corporation listed on the Nasdaq Stock Exchange.
SBA COMMUNICATIONS CORP (SBAC.OQ)
SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The stock is listed on the Nasdaq Stock Exchange. Price chart formed a 4 month-long ascending triangle with the horizontal boundary acting as strong resistance at 320.00 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 326.00 levels will confirm the breakout from the 4 month-long ascending triangle with the possible chart pattern price target of 362.00 levels. Breakout can push the stock to all-time highs.
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