AKAM breaks below 100-day moving average

Akamai Technologies Inc (AKAM) Technical Analysis Report for Sep 14, 2018

Highlights

AKAM breaks below 100-day moving average
AKAM unable to break through key resistance level
AKAM finds support at 50-day moving average
AKAM falls to lowest close since September 7th
AKAM closes within previous day's range

TQ Sentiment

Report Sentiment: 33% Bearish
Technical Forecast:

Overview

AKAM ended the week 1.73% higher at 75.80 after losing $0.36 (-0.47%) today on high volume. Today's closing price of 75.80 marks the lowest close since September 7th. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for AKAM

Volatility

Friday's trading range was $1.28 (1.68%), that's above last trading month's daily average range of $1.07. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.

Support/Resistance

Unable to break through the key technical resistance level at 76.21, the market closed below it after spiking as high as 76.30 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward. After trading as low as 75.02 during the day, Akamai Technologies found support at the 50-day moving average at 75.53.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. The share broke below the 100-day moving average at 75.88 today for the first time since August 10th.

Conclusion

While classical technical analysis indicates a neutral 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 Rate Exit Day Events
2 Consecutive Lower Closes TQ Pro Members Only
Close near low of period TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Bearish Break through SMA 20 TQ Pro Members Only
Bearish Break through SMA 50 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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