Akamai Above Average Volume
Published on Wednesday, 06 June 2012 11:38 Written by TradersHuddle Wire
New York, June 6th (TradersHuddle.com) - Unusual high volume detected on shares of Akamai Technologies, Inc. (NASDAQ:AKAM) early in the trading session. The pace in volume of Akamai is already above average, with sellers in control, as the stock is 3.24% lower.
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 3.812 times its 3-month average volume and has calculated support and resistance at $28.12 and $30.25 respectively. Traders like to use volume as their lie detector for price action movement through predefined trading ranges.
The overall market index S&P 500 is trading higher by 1.71% from its previous trading close, which means that Akamai stock is underperforming the overall market.