Akamai Broke Resistance

Published on Tuesday, 07 February 2012 09:20 Written by TradersHuddle Wire

New York, February 7th (TradersHuddle.com) - Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) closed the trading session at $33.37 just above calculated resistance at $32.59 moving to what appears to be a new range, as this move will clearly raise the attention of momentum buyers.

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 stock was trading in a well defined range with support at $31.01 and resistance at $32.59, given that this range was broken traders will be closely monitoring the stock