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After Yesterday's Rally of 2.71% Shares Could Potentially Pullback

Mar 08, 2018 (SmarTrend(R) News Watch via COMTEX) --

Akamai Technolog (NASDAQ:AKAM) traded in a range yesterday that spanned from a low of $70.30 to a high of $71.90. Yesterday, the shares gained 2.7%, which took the trading range above the 3-day high of $70.70 on volume of 1.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Akamai Technolog have traded between a low of $44.65 and a high of $71.64 and are now at $71.42, which is 60% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 0.6%.

SmarTrend recommended that subscribers consider buying shares of Akamai Technolog on October 3rd, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $50.27. Since that recommendation, shares of Akamai Technolog have risen 39.2%. We continue to monitor AKAM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

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