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Bearish Moving Average Cross by Akamai Technolog (AKAM)

By David Diaz

Today, shares of Akamai Technolog (NASDAQ:AKAM) have crossed bearishly below their 10-day moving average of $87.73 on a volume of 2.6 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Akamai Technolog share prices have been bracketed by a low of $57.18 and a high of $90.76 and are now at $85.61, 50% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 1.0%.

SmarTrend recommended that subscribers consider buying shares of Akamai Technolog on June 10th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $80.21. Since that recommendation, shares of Akamai Technolog have risen 11.4%. We continue to monitor AKAM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses akamai technolog

Ticker(s): AKAM