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.


Akamai Technologies Inc (AKAM) : Kumo breakout; bullish signals

Akamai (AKAM) has a bullish breakout above the kumo with above average volume.

From the chart, we can see that :

1. It break above the resistance levels form by the following dates, June 21 and July 27

2. A bullish Tenkan sen – Kijun sen cross was sighted around August 18

3. Breakout above the kumo resistance