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- 5/10/2024 -
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Akamai Technologies (AKAM) Technical Analysis
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| Summary:
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| | It was the negative week for the Akamai Technologies (AKAM). During the week, the AKAM dropped -8.48 points, or -8.51%, and closed at 91.19 on Friday, May 10, 2024. It was the worst weekly loss since February 16, 2024. Weekly volume was 124% above average.
AKAM is a member of Internet Services & Infrastructure Industry. Internet Services & Infrastructure is the ninth most oversold industry. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See AKAM long-term trend chart]
A long-term downtrend had started on January 27, 2021 at 124.91 and reached 70.65 on March 13, 2023. AKAM lost 54.26 points, or 43.44%, in 110 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 57.99 and resistance is at 120.50. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.
 Medium-term trend: [See AKAM medium-term trend chart]
A medium-term uptrend had started on March 13, 2023 at 70.65 and reached 129.16 on February 9, 2024. AKAM gained -58.51 points, or -82.82%, in 47 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (131.65) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See AKAM weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Relative Strength Index and Lane's Stochastic or strongly oversold weekly Williams' Percentage Range. Weekly Lane's Stochastic has bullish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is below its signal line since February 9, 2024. The distance between MACD and the signal line is near its high, but getting smaller. Use the following link to access a MACD help.
 Short-term trend: [See AKAM short-term trend chart]
A short-term downtrend had started on April 29, 2024 at 102.83 and reached 90.53 on May 10, 2024. AKAM lost 12.30 points, or 11.96%, in 11 days. The price is now at the 5.37% retracement level.
 Daily Technical Indicators: [See AKAM daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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