AKAM closes below its opening price unable to hold early session gains


Akamai Technologies Inc (AKAM) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
AKAM closes below its opening price unable to hold early session gains
AKAM ends the day on a bearish note closing near the low of the day
AKAM runs into sellers again around 81.56
AKAM closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 75% Bearish
Technical Forecast:
Overview

AKAM finished Thursday at 80.86 edging lower $0.09 (-0.11%). Trading $0.45 higher after the open, the stock was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for AKAM
Volatility

Thursday's trading range was $0.79 (0.97%), that's far below last trading month's daily average range of $1.29. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being slightly below average.

Support/Resistance

After having been unable to move above 81.38 in the previous session, the share ran into sellers again around the same price level today, failing to move higher than 81.56.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Akamai Technologies Inc
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Bullish Spinning Top TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

AKAM finds buyers again around 71.75

Aug 14, 2018
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