Akamai Technologies (AKAM): Golden Cross
Akamai Technologies (AKAM) flashed the golden cross (50-day moving average rises above 200-day) signal.
The green price bars showing outperformance vs. SPX.
We can see AKAM topped out in December 2010 and made new lows in October 2011.
AKAM has been able to show early signs of a bottom.
Let’s see if the 200DMA turns into a major support area.
The golden cross is a good filter to help narrow down the field. From there, traders should apply the Seven Steps to Better Stock Trading. For example, it is important to determine if there is a trend. One way to do it is to apply a swing indicator and look for a pattern of higher highs and higher lows. Better yet, just use my Total Indicator for eSignal. It’s free!
Citigroup analyst Mark Mahaney downgrades AKAM to sell rating.
CNBC interviewed Mahaney. [8min mark his AKAM thoughts]