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SmarTrend Watching for Potential Rebound in Shares of Akamai Technolog After 6.32% Loss

By Shiri Gupta

Akamai Technolog (NASDAQ:AKAM) traded in a range yesterday that spanned from a low of $83.33 to a high of $87.50. Yesterday, the shares fell 6.3%, which took the trading range below the 3-day low of $87.23 on volume of 3.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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.

Over the past year, Akamai Technolog has traded in a range of $57.18 to $90.76 and is now at $83.48, 46% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 1.0%.

Keywords: rebounders akamai technolog

Ticker(s): AKAM