Akamai - 52 Week High

Published on Thursday, 02 September 2010 11:36 Written by Danny Miller

New York, September 2nd (TradersHuddle.com) - Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) booked a new 52 week high today by trading above $48.63, traders are definitely monitoring Akamai's price action to see if this move attracts further buying into the stock.

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 is currently trading 5.76% versus its previous trading session close, and it has calculated support and resistance at $45.03 and $48.63 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 0.3% from its previous trading close, which means that Akamai stock is outperforming the overall market.