AKAM breaks below 100-day moving average
Akamai Technologies Inc. (AKAM) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (AKAM as at Sep 14, 2018):
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.
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.
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.