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Opinion on  Akamai Technologies Inc (AKAM)     Sector: Technology  >  Industry: Computer Services
Stock of the Day

Jun 14, 2007 06:22 AM GMT
Return Risk
-21.93% HIGH
Tracked Blogger

Fundamental Analysis  
Via mymoneylife.blogspot.com/:  

 My Stock of the Day is Akamai (AKAM).

AKAM is a great growth company, that often trades at a premium multiple. The stock suffered a tumble after reporting earnings in April. It wasn't that the earnings were bad, but that investors had lofty expectations, and punished the stock unfairly when they didn't raise guidance more.

The stock has been undergoing a correction for the last couple of months, but the recent action leads me to believe that the correction is almost over, and the stock is ready to resume its uptrend.

A look at the chart shows that last week, the stock vaulted out of its recent consolidation range on a big spike in volume. The next day, the stock added to its gains on another big volume day. Since then it has been trading sideways, despite the big down day in the market.

I think the stock is ready to overtake its 50-day average resistance that lies just ahead. Over time, I expect the stock to go on to make new highs again before the end of the year.

As for the rest of the market, it too has been adding to its gains throughout the day. The market is still oversold, so I think this bounce should last a bit longer.

long AKAM





Update 06/15:
Via mymoneylife.blogspot.com/:  


One of my recent trades, Akamai Tech (AKAM), has started to have a nice move in the last several days.
I am not ready to get out yet, but I think I may hedge a little of my long expsoure as the stock nears some resistance.
The stock is approaching its overhead 200-day average, which could act as resistance the first time it is tested. Also, a look at the stochastics on the chart shows that the stock is also well into overbought territory as it approaches said resistance level.
As such, I am going to decrease my long exposure slightly, with the expectation that AKAM pulls back a little before ultimately getting through these resistance levels and back into the $50s.
long AKAM

This is a tracking account  [?]   SocialPicks is not affiliated with Jordan Kahn. The POS/NEG sentiment is automatically determined by SocialPicks from this blog post and should not be recognized as a position recommendation by Jordan Kahn

AKAM:  This call was made on 06/14/07 @ $46.96
Rating:   Positive   $46.96 (06/14/07)
Gain/Loss:   -49.11% in 880 days


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