Stronger technical forecast for Akamai Technologies stock price after Friday trading. (Updated on July 30, 2021)
Buy candidate since 2021-07-23 Gain 0.32% PDF
The Akamai Technologies stock price gained 0.45% on the last trading day (Friday, 30th Jul 2021), rising from $119.38 to $119.92. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 1.90% from a day low at $118.43 to a day high of $120.68. The price has risen in 7 of the last 10 days and is up by 2.47% over the past 2 weeks. Volume fell on the last day by -131 thousand shares and in total, 850 thousand shares were bought and sold for approximately $101.96 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a narrow and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 7.54% during the next 3 months and, with a 90% probability hold a price between $127.65 and $133.34 at the end of this 3-month period.
Signals & Forecast
Mostly positive signals in the chart today. The Akamai Technologies stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $119.14 and $117.34. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 18, 2021, and so far it has risen 4.61%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss
Akamai Technologies finds support from accumulated volume at $116.95 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $2.24 between high and low, or 1.90%. For the last week the stock has had a daily average volatility of 1.50%.
Our recommended stop-loss: $114.92 (-4.17%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 29 days ago.)
Is Akamai Technologies stock A Buy?
Akamai Technologies holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.503
Predicted Opening Price for Akamai Technologies of Monday, August 2, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price August 2, 2021||Current price|
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KeyCorp is very positive about AKAM and gave it a "Overweight" rating on May 11, 2021. The price target was changed from $119.00 to $130.00.
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