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Downtrend ExhaustionArchive
- 5/17/2024 -
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Akamai Technologies (AKAM) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the Akamai Technologies (AKAM). During the week, the AKAM gained 4.02 points, or 4.41%, and closed at 95.21 on Friday, May 17, 2024. It was the best weekly gain since December 15, 2023. Weekly volume was 69% above average.
 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 57.78 and resistance is at 120.47. 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 (132.70) 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, Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. 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 and getting bigger. 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 chart has formed a Broadening Right-Angled, Descending Wedge chart pattern.
 Daily Technical Indicators: [See AKAM daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since May 9, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.
During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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