Data Giant Dips On Downgrade, Watch This Level
InTheMoneyStocks.com | Jan 02, 2019 01:38PM ET
Akamai Technologies (NASDAQ:AKAM) is a leader in providing services that improve the delivery of content and applications over the internet. The stock fell 4 percent Wednesday to $56.64 a share. The fall comes after a downgrade was issued in the stock and market volatility continues to cause stocks to overreact to any news.h3 Support/h3
If it keeps falling, AKAM should have excellent daily chart support around the $50 area. That's where the stock was defended in October 2017 after forming a bearish pattern. I'd probably buy the stock around this important support area when tested. Please note that AKAM is scheduled to report earnings on February 5 after the closing bell.
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