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Akamai Technologies, Inc. Message Board

  • sandyeggojake sandyeggojake Jul 8, 2013 4:23 PM Flag

    Coiling spring ready to be released? TA on $AKAM

    On strong day (7/8/12) for the SPX, but weak for tech, $AKAM markied time. But some key progress was made and several other bright spots on its techncials suggest it could wake up going into earnings.

    Since the June 16th peak, and especially after the 5/30 failure to reclaim the 52wk high, shorts have used $AKAM as a source of hopes to play the gap fill back down to the $36. They got their hopes up on 6/20 when the $42 range support all broke, but the r6/24 reversal day put them on notice such might not go to script.

    Watching the FIb retrace since the high, one the 23.6% was recaptured, it has held as support along with the 1/2/13 closing high. Today she tested the 38.2% and broke through, but just as with the last rung tested on 6/25, she closed below. So the watch tomorrow and Wednesday is can she close above $43.28 and ideally take out today's high of $43.45. Such would toss us to the falling upper resistance line (defined by close of 5/20 and 5/30) which we see as eventually breaking out to the upside with a test / recapture of the 50% retrace at $44.28. ...which we see will both cause the pro shorts to run screaming back out of $AKAM.

    If the seasonality of $AKAM earnings is a thing of the past (as last years results suggest), with a strong beat, a new 52 high is in the cards. Perhaps even tripping the trigger to uncoil the spring of the massive Asy Tri since the '07 highs.

    Sentiment: Buy

73.46-0.34(-0.46%)Oct 9 4:00 PMEDT