AKAM closes below its opening price unable to hold early session gains
Akamai Technologies Inc (AKAM) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (AKAM as at Jun 14, 2018):
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.
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.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.