Akamai Technologies (AKAM) : Consolidation. Kumo Support

Akamia held on to its bullish move after its earnings released on Oct 27.

The thick kumo provided support at around $50.57 . With the flattening Tekan sen and Kijun sen, it is likely AKAM will consolidate between $50 and $53 price level before moving up again.

The leading kumo twist suggests continues uptrend movement.


Akamai Technologies (AKAM) : Can AKAM retrace to $44?

I have  a question post to me on my Watchlist page from Victor.

AKAM can go back 44?

My personal opinion is No.

And this is guided by 2 charts (or sentiments).

1. The general market is bullish now; SPX have break through of its kumo resistance (refer to my Sept 7 post on SPX)

2. From the Akamai (AKAM) Ichimoku chart above, we can see that AKAM is turning now (a little retracement) in a fairly strong bullish move above the kumo (above kumo represents bullish move).

– we can see the Tenkan sen (blue line) has risen at a pretty sharp angle and is now tappering off ; reflecting the price is going to consolidate

– the RSI is near overbought conditions, so we do expect price to consolidate but not drop too much

3. From the Chikou Span, I have drawn 2 horizontal lines to identify the nearest 2 support levels. ($48 and $45)

In my opinion, the $45 level is a pretty strong support level as it has previously attempted twice to break through it before finally succeeding.

We can also see that the leading kumo is suggesting a support level at around $46 – $47

So, unless the general market turns down due to other news, I do not foresee AKAM to hit $44 in the near term.

What do you think?


Akamai Technologies Inc (AKAM) : Consolidation after runup

I believe AKAM is poised to consolidate after hitting a high couple of days back.

From the Ichimoku chart, we can see from both the candles action and RSI that it has run up a fair bit.

With RSI approaching overbought indication, it is a good time to take some money off the table.

Currently, AKAM is still on a bulls run and have far extended itself away from the kumo support.

Some consolidation is expected and I believe after that it will surge higher towards $60.