AH move to a very bullish new higher swing high on the numbers (well above the Dec '11 high, and after failing to make a lower swing low in Oct '12) , then a crash on soft q4 guidance? Both a breakout and breakdown in minutes. Which do you believe? I suspect this move off the bottom here is the tell.
I suspect the market will look beyond Q4 into '14 & '15 and like what they see. So while $48.21 may be retested at the open, but I would not be surprised to see an aggressive move off the bottom thereafter given what I see as standard UPOD for the 4Q and the new buyback. SOP for open market share repurchase plans is they usually do not operate in the first and last minutes of a session to avoid claims of price manipulation.
The PPS needs a close above 50.65 tomorrow to maintain the rising tertiary support trend, but even if it doesn't, that trend has been so steep as to be barely sustainable and already has one crack. A close above $48 tomorrow (ideally above $49.91, the 50 MA) would help establish a new more suitainable support trend and remove some of the rising wedge technical concerns. As long as October does not close below $46.4, the technical setup remains supportive good through the end of the year to push back into the mid $50's and above and allow for better than expected '14 guidance next qtr.
If it would take another 2-3 months to make up then investors will be gone to another ticker symbol to make their losses than wait for a conditional Q4 target. Now I understand why AKAM is a favorite of shorters. Management style is not conducive to long investors. I waited long to recover from the damage inflicted by their low guidance in previous quarters but now they did it again. Oh well... live an learn. AKAM sucks !!!!