How to Play the Setup in Akamai
Published on Monday, 25 June 2012 09:24 Written by TradersHuddle Wire
New York, June 25th (TradersHuddle.com) - Akamai Technologies, Inc. (NASDAQ:AKAM) closed the trading day at $30.81, near its 50 day and 200 day moving averages set at $31.84 and $30.63 respectively. Akamai's price action placed the stock above the 200 day moving average but below its 50 day moving average, a setup that signals a possible break out.
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 seems to be setting up for a tight range between the 200 day moving average as support and the 50 day moving average serving as resistance.
A tiered approach, appears to be the best strategy to maximize possible movements in the stock, as traders could establish a small position in Akamai and wait for the stock to break out above its 50 day moving average at $31.84. Then they could add to the position as momentum builds with the breakout. On the flip side, if support being referenced at the 200 day moving average set at $30.63 breaks, it could signal further downside pressure for Akamai.
- 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