Akamai High Volume Day?

Published on Friday, 20 August 2010 11:43 Written by Christopher Lynn

New York, August 20th (TradersHuddle.com) - Unusual high volume detected on shares of Akamai Technologies, Inc. (NASDAQ:AKAM), early in the trading session. Akamai is currently trading higher by 5.38%, so definitely the buyers stepping in, as the stock's volume is on pace to break its average.

Akamai Technologies, Inc. (NASDAQ:AKAM) provides global delivery services for Internet content, streaming media, and applications and global Internet traffic management. The Company uses technology and software to offer tools that provide reporting and management capabilities; network data feeds and Website analytics, which provide customers with real time data about the performance of their content and applications over the Internet.

Akamai has already traded 0.759 times its 3-month average volume, and has calculated support and resistance at $36.69 and $44.72 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 -0.78% from its previous trading close, which means that Akamai stock is outperforming the overall market.