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Possible Bullish Inside Day Candle Pattern Detected for Akamai Technolog (NASDAQ:AKAM)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Akamai Technolog (NASDAQ:AKAM) based on the price action in the company's shares. Yesterday's price range of $77.34 and $78.25 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Akamai Technolog may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Akamai Technolog share prices have moved between a 52-week high of $86.19 and a 52-week low of $57.18 and closed yesterday at 37% above that low price at $78.24 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

There is potential upside of 4.1% for shares of Akamai Technolog based on a current price of $78.24 and an average consensus analyst price target of $81.44. The stock should find initial support at its 50-day moving average (MA) of $77.37 and further support at its 200-day MA of $70.63.

Akamai Technologies, Inc. provides services for accelerating and improving the delivery of content and applications over the internet, ranging from live and on-demand streaming video capabilities to conventional content on websites, to tools that help people transact business and reach out to new and existing customers.

SmarTrend is monitoring the recent change of momentum in Akamai Technolog. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Akamai Technolog in search of a potential trend change.

Keywords: bullish am inside day candle akamai technolog

Ticker(s): AKAM