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SmarTrend Watching for Potential Pullback in Shares of Akamai Technologies After 2.31% Gain

By David Diaz

Akamai Technologies (NASDAQ:AKAM) traded in a range yesterday that spanned from a low of $55.58 to a high of $56.25. Yesterday, the shares gained 2.3%, which took the trading range above the 3-day high of $55.24 on volume of 758,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Akamai Technologies has traded in a range of $39.43 to $78.44 and is now at $56.15, 42% above that low. The 200-day and 50-day moving averages have moved 0.76% lower and 0.61% lower over the past week, respectively.

SmarTrend is tracking the current trend status for Akamai Technologies and will alert subscribers who have AKAM in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Akamai Technologies

Ticker(s): AKAM