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Watch for Akamai Technolog to Potentially Pullback After Gaining 2.00% Yesterday

By Shiri Gupta

Akamai Technolog (NASDAQ:AKAM) traded in a range yesterday that spanned from a low of $90.71 to a high of $91.97. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $91.84 on volume of 1.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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 11.7%. 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 $93.12 and is now at $91.61, 60% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 1.2%.

Keywords: rebounders akamai technolog

Ticker(s): AKAM