Are the Bears Taking Control over Akamai?
Published on Monday, 21 May 2012 04:15 Written by TradersHuddle Wire
New York, May 21st (TradersHuddle.com) - Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) ended the trading session lower by $0.65 or -2.2% from its previous close. Akamai's price action formed what is considered to be a bearish engulfing candlestick chart pattern.
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's current stock range is determined by calculated support defined at $29.62 and by the resistance level at $39.09, which should be used by traders planning their next move.
If traders want to establish a position in Akamai, they need to pay close attention at the bearish engulfing pattern, since it could mark a trend reversal in the current price action. The Bearish engulfing pattern is a leading warning sign; therefore, traders should closely monitor Akamai for indications of a trend reversal. Below an Engulfing Bearish Candle Illustration:
- AT&T And America Movil To Provide Deeper National Reach For Advanced Enterprise Services Across Latin America
- AT&T 4G LTE Available In Willimantic
- AT&T 4G LTE Available In Torrington
- AT&T And The University Of Kansas Team Up To Enhance Wireless Coverage On Lawrence Campus
- AT&T 4G LTE Available In Fargo
- AT&T 4G LTE Available In Amarillo
- Benefitfocus Announces Pricing of Initial Public Offering
- Trends of China Gear Industry 2013 Analysis & Reviewed in New Research Report at RnRMarketResearch.com
- Product Launch Formula 4.0 Bonuses Total $5000 at BrianHanson.com
- Datex Presents Motorola Solutions Webinar “Is It ‘Smart’ to Use Smartphones for the Enterprise?”
Related Partner Headlines
Recent Trading Ideas
Latest Partner Headlines