Close to the 50 Day - Akamai

Published on Tuesday, 10 August 2010 19:36 Written by Christian Paolinetti

New York, August 10th (TradersHuddle.com) - Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) closed the trading day at $43.15 close to its 50 day moving average currently set at $42.51. Akamai's price action is just above this important support level translating into 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.

Looking at peaks and troughs horizontal support and resistance levels, we can see current calculated support at $36.69 and calculated resistance at $39.24. These levels should also be evaluated by traders when planning their trades, as they provide an insight into the latest price action.

Traders wanting to establish a position on Akamai will be looking at the price action for evidence of buying near the 50 day moving average, and opening a position as close as possible to this important level. Also traders will be looking at the latest price action, via the stocks current range previously defined for insights of other key levels that might affect their upside or downside.