Reference Points for Akamai
Published on Wednesday, 25 April 2012 09:44 Written by TradersHuddle Wire
New York, April 25th (TradersHuddle.com) - Akamai Technologies, Inc. (NASDAQ:AKAM) closed the trading day at $37.74, near its 50 day moving average that is set at $36.91. Akamai's price action is just above this important support level, providing a trading opportunity.
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.
The peaks and troughs algorithm shows calculated support at $36.90 and calculated resistance at $38.91. These levels should also be evaluated when planning trades, as they provide an insight into the latest price action.
Traders wanting to establish a position on Akamai should look for evidence of buying near the 50 day moving average, and open this position as close as possible to this important level. Also, they need to consider the latest range defined by the peaks and troughs algorithm for insights on other key levels that might impact an upside or downside move.
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