Trading Idea - Key levels for Akamai

Published on Friday, 05 February 2010 10:27 Written by Christian Paolinetti

New York, feb 5^th (TradersHuddle.com) - Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) are trading very close to calculated support at $24.5 with current price action closing at just $25.51 places the stock price near levels where traders will start paying attention.

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 defined by current calculated support defined at $24.5 and by the resistance level at $26.825, which should be used by traders planning their trades.

Traders wanting to establish a position should place close attention to Akamai's price action, and establish a position as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $26.825 might limit their upside, however if the stock breaks resistance, it could be a good point to add to the position.