The 200 Day Moving Average is a Great Reference Point for Akamai
Published on Thursday, 25 October 2012 07:44 Written by TradersHuddle Wire
New York, October 25th (TradersHuddle.com) -Akamai Technologies, Inc. (NASDAQ:AKAM) closed the trading session at $36.11 near its 200 day moving average set at $34.64. Akamai's price action is just above this key support level, grabbing traders' attention for a possible 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 latest price action range, defined by a peaks and troughs algorithm, places calculated support at $36.02 and resistance at $40.32. These levels will provide insight for the stock's latest price dynamics.
Traders wanting to establish a position on Akamai will look for evidence of buying near the 200 day moving average, before opening the position as close as possible to this key technical level. Also, they need to consider the latest range defined by the calculated support and resistance levels for insights on other key levels that might have an effect on future price movements.
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