A look at a monthly chart going back to at least 2005 shows an impressive coiling pattern known as a symmetrical triangle. Classically drawn to the monthly closes, it showed a breakout potential on 9_10, and once through a rip follow through. On Friday, Sept 13th we tested and broke through the tail trend line resistance, and today gaped well above. While it is still some weeks before the end of the month, the probability is rapidly increasing that $AKAM is at the start of a major rally.
If $AKAM takes out the premarket $52, it should start to sprint on a gap and run.
Now working though the chop of the prior 2010/11 swing high, our model suggests that $AKAM may make a high base in the $50 to $55 range, but then run to test the 05/06 swing highs $57 to $60. After that, it is off to who knows.... the 1999 tech bubble top was $345.50. Current P&F chart PT is $79.
Breakout above $52.... our model shows bulls in full control and unwilling to sell. New 52 wk high. We expect short interests to be dropping like mad in front of the Fed decision. If we get a smaller taper, the energy in the name suggests we could rip to the $54.65 test just on the technicals.