AKAM (Akamai Technologies) broke out of an Ascending Triangle on May 26. There were 4 hits to the top of the top of the pattern, which you can eyeball on this chart. (Connect the highs of December 30, 2004...February 1, 2005...April 14, 2005....April 25, 2005...it's a flat line)
AKAM has pulled back to the breakout. The Moving Average on this chart is the 200 day. The 50DMA made a bullish cross above it yesterday.
AKAM is an internet/tech bubble turn around story. It fell from a high of $345.50 at the end of 2000, to a low of $0.56 in 2002. :o
But, this year, it's expected to be in the black :)
2004 Earnings: -$0.07 (a loss)
2005 Estimated Earnings: $0.46
2006 Estimated Earnings: $0.63
It's currently $13.21 BID...$13.23 ASK, down $0.16 on the day.
http://ts-lc.sc8.finance.lycos.com/1120154501515?User=demo&Pswd=demo&DataType=GIF&Symbol=NASDAQ:AKAM&Interval=D&Permission=1000&Ht=400&Wd=600&Display=2&Study=MA&Param1=200&Param2=0&Param3=&FontSize=10&LocaleID=0x0409
I bought AKAM here at $13.14. My stop for now is a CLOSE below $12.59 (risk of 4.2%), but I intend to raise that stop very quickly, closer to the Moving Averages near $12.90
AKAM held up okay in the interest rate hike downdraft yesterday afternoon. It closed at 13.13, down only a penny from my entry. I'd like to see it hold at/above the 200 DMA on a closing basis. I'd like a rally even better ;D
http://ts-lc.sc8.finance.lycos.com/1120154501515?User=demo&Pswd=demo&DataType=GIF&Symbol=NASDAQ:AKAM&Interval=D&Permission=1000&Ht=400&Wd=600&Display=2&Study=MA&Param1=200&Param2=0&Param3=&FontSize=10&LocaleID=0x0409
Quote from: Melf Elf on June 30, 2005, 02:40:08 PM
I bought AKAM here at $13.14. My stop for now is a CLOSE below $12.59 (risk of 4.2%), but I intend to raise that stop very quickly, closer to the Moving Averages near $12.90
This morning, AKAM tested its 50DMA (see chart below), which recently made a bullish cross above the 200DMA. That was successful, and the pullback to the top of the Ascending Triangle re-test) is going well.
I'm long from 13.14. AKAM currentily is 13.24 ASK...13.25 BID. I'll hold it, as long as my new stop doesn't get busted at today's close. :o
I'm moving my stop way up from 12.59 to a CLOSE below this morning's low of 13.02. Risk is a loss of is 1%. The Ascending Triangle target: 15.58 is IN PLAY, as long as AKAM remains above the triangle, which it is.
http://ts-lc.sc8.finance.lycos.com/1120244304799?User=demo&Pswd=demo&DataType=GIF&Symbol=NASDAQ:AKAM&Interval=D&Permission=1000&Ht=400&Wd=600&Display=2&Study=MA&Param1=50&Param2=0&Param3=&FontSize=10&LocaleID=0x0409
this thing has been in a trading range for a very long time I don't know what the actual LT resistance is but this one could be huge if it goes.
Quote from: Adam on July 03, 2005, 10:41:44 PM
this thing has been in a trading range for a very long time I don't know what the actual LT resistance is but this one could be huge if it goes.
Unfortunately, Adam, after having crashed 99.8% from $345.50 to $0.56, this one, like many others from the Bubble Era, has alot of long-term resistance. However, the farther away in time resistance is, the less daunting it becomes.
More immediately, AKAM has resistance from 2004 in the $11-$18 range, so we're right at the lower end of that range, currently at $13.16. The first half of 2005 has been spent forming this Ascending Triangle, the top of which we're now testing (see chart below). I like to see a decent base/pattern like this established on a chart, prior to attacking overhead resistance.
If AKAM can hold here, or slightly below here, it has a good chance of making the pattern target, and can go higher if it continues to build bullish patterns like ASTM did on its recent 74% move up.
After a bullish cross of the 50 and 200DMAs on Wednesday, AKAM is sitting on top of its Kumo (cloud). All of that "should be" support this week. We'll see. Those numbers are:
50DMA - 12.95
200DMA - 12.90
Kumo bottom - 12.75
I've decided that I'm probably putting too tight a leash on AKAM by moving my stop up from $12.59 to a close below Friday's low of 13.02. While I'd like to see AKAM take off from Friday's low, the chart doesn't know that I want that ;) It might want to test 12.75-12,95, then rally, and if it does, I'm stopped out for a 1% loss, which is a very tight stop.
I'm still going to raise my stop from $12.59, but for now, I'm only going to raise it to a CLOSE (or obvious late day tank) below 12.75. That's the bottom of the Kumo (cloud) on the chart. From my entry of 13.14, that's a 3% risk, which is reasonable, and I think it's warranted in this case.
BTW, I'm seeing some other charts that look like this one. Charts that have broken out to the upside, and that now are testing the pattern breakouts. eliteG's INFA comes to mind, for one. DECK is another (I forget who posted that one).
Sorry, you have to use the horizontal scroll bar below the chart to see the entire chart (I didn't notice that scroll bar on the first chart that I posted and thought I had only half a chart) ???
Very little on the upside yesterday ($0.05), but AKAM held at both the top of the Ichimoku Kumo (cloud), and at the top of the Ascending Triangle. I held it.
Quote from: Melf Elf on July 06, 2005, 04:18:43 AM
Very little on the upside yesterday ($0.05), but AKAM held at both the top of the Ichimoku Kumo (cloud), and at the top of the Ascending Triangle. I held it.
AKAM rallied 4% off double support at the top of the triangle, and at the top of the Kumo (cloud). It closed at 13.75. I'm long from 13.14. I held it.
AKAM has done well off the successful pullback to the Ascending Triangle breakout. I was long from 13.14. I sold it here at 14.19 for an 8% gain. I still like the chart. Just taking some profits today.
http://ts-lc.sc8.finance.lycos.com/1120154501515?User=demo&Pswd=demo&DataType=GIF&Symbol=NASDAQ:AKAM&Interval=D&Permission=1000&Ht=400&Wd=600&Display=2&Study=MA&Param1=200&Param2=0&Param3=&FontSize=10&LocaleID=0x0409
This stock is very intriguing. the base on this stock is a big one. I don't know where the break is but this could be a 5 bagger
Quote from: Adam on July 16, 2005, 09:33:07 AM
This stock is very intriguing.
VERY intriguing. What I liked so much about the "Pullback To Breakout," was that prior to the breakout in late May, 2005, AKAM looked like it had put in a BIG H&S top :o
Instead, it turned the corner, formed an Ascending Triangle, and had a bullish breakout. 8)
Quote from: Melf Elf on July 08, 2005, 11:31:32 AM
AKAM has done well off the successful pullback to the Ascending Triangle breakout.
I was long from 13.14. I sold it here at 14.19 for an 8% gain. I still like the chart.
Just taking some profits today.
AKAM was in a pullback to the triangle breakout when I bought it.
I sold it early, to offset a loser. AKAM just printed 15.57,
within a penny of the pattern target on the chart. I love a chart like this.
Breakout. Pullback to breakout. Rally to the target.
Am i missing something because this chart looks like a potential HOME RUN! The base is large...the question is the potential space? Should we own this in a lrge way. Melf, what do you think?
Quote from: Adam on July 28, 2005, 06:02:35 PM
Am i missing something because this chart looks like a potential HOME RUN! The base is large...the question is the potential space? Should we own this in a lrge way. Melf, what do you think?
This chart was looking ominous coming into 2005, Adam. A year-long H&S Top :o
It turned the corner at the end of May, 2005 when it broke out above the five-month Symmetrical Triangle, but that base (in green) is much smaller than the H&S top was (in red). And, volume has been significantly lower on this year's rally than it was in 2004.
AKAM still has to chew through resistance from 2004 between here and 18.27. (This chart doesn't include today's data, BTW). The people who bought AKAM last year at those higher prices have been holding a loser and would like finally to get out of it at a break even, or at a small loss.
While the chart looks fine, the remainder of 2005 could be spent dealing with that overhead supply (resistance).
Short intrest increased by 47% last month to around 8,000,000.
Dr. Richard wants to know: does it hurt when I do this?
(http://img286.imageshack.us/img286/7180/051122akam6at.jpg)
I searched and found an old thread on this one, but it said "pullback to breakout" in the subject lline, which I thought would be confusing, so I started a new one. Maybe we should just put ticker alone in subject for a pick??
Another big shart guys ...which doesn't stop to go up...
About the company...:
Akamai Technologies, Inc. provides services for the delivery of content and business processes over the Internet for businesses, government agencies, and other enterprises. It offers services and solutions for content and application delivery, application performance services, on demand managed services, and business performance management services based on its technological platform, EdgePlatform. The company offers solutions for the delivery, load balancing, and storage of the applications and Web content. Akamai Technologies also offers application performance services to improve the performance of content on corporate extranets and wide area networks. Its on demand managed services, include EdgeComputing and net storage offerings, which enable enterprises to handle Internet traffic. The company's business performance management services comprise network data feeds and Web analytics, which provide customers with data about the performance of their content and applications over the Internet and on the Edge Platform. In addition, Akamai Technologies provides custom solutions, including replicating its technologies to facilitate content delivery behind the firewall, combinations of its technology with that of other providers to create solutions for specific customers, and support for applications that rely on the Internet and intranets. The company sells its services and software directly, as well as through resellers in the United States and internationally. Akamai Technologies was incorporated in 1998 and is headquartered in Cambridge, Massachusetts
last news;..
03/29/2006 6:30AM Akamai Web Application Accelerator Selected by InspireWorks for ''Extending the Reach to Teach'' Portal
03/20/2006 2:28PM Akamai Sets Records for Total Web Content Delivered and Simultaneous Video Streams Served
03/16/2006 4:45PM Akami Names J.D. Sherman Financial Chief; Cobuzzi Retires
03/16/2006 4:05PM J.D. Sherman Assumes CFO Role at Akamai ;
Last Trade: 31.42
Trade Time: Mar 29
Change: 0.00 (0.00%)
Prev Close: 31.42
Bid: 0.01 x 100
Ask: 32.48 x 100
1y Target Est: 28.15
Day's Range: N/A - N/A
52wk Range: 11.14 - 32.02
Volume: 0
Avg Vol (3m): 2,593,930
Market Cap: 4.84B
P/E (ttm): 14.91
EPS (ttm): 2.11
Div & Yield: N/A (N/A)
Go'n'see ...with a stock like this...you can sleep well...
Watch,
http://stockcharts.com/h-sc/ui?s=akam
november : 16.7$
-->now:31.42$
that doesn't seem to be finished !
What do you think about
'm waiting 30.00 to enter...
Akamai to Join Nasdaq 100
Wednesday April 12, 7:56 am ET
Akamai Technologies to Be Included in Nasdaq 100
NEW YORK (AP) -- The Nasdaq Stock Market Inc. said on Monday that Akamai Technologies Inc., which makes technology that delivers online content and applications, will join its benchmark Nasdaq-100 Index on April 20
http://finance.yahoo.com/q/bc?s=AKAM&t=1y
akamai will do well with cramer pumping it
Hello Doyle, did you buy this at $30?
I've been holding this thing since november, see no reason to bail now.
Consider this earnings preview from AP:
http://biz.yahoo.com/ap/060424/earns_preview_akamai.html?.v=1
(Emphasis added.)
====
Earnings Preview: Akamai Technologies
Monday April 24, 3:19 pm ET
Akamai Technologies Seen Delivering Upside to First-Quarter Results
NEW YORK (AP) -- Akamai Technologies Inc. reports first-quarter earnings on Wednesday, April 26. The following is a summary of key developments and analyst opinion related to the period.
OVERVIEW: Akamai, which provides music and video streaming services for Internet content providers, counts Apple Computer Inc. as a major customer. So it bodes well that Apple's second-quarter "music-related products and services" revenue, which includes sales from iTunes, more than doubled to $485 million.
In February, Apple said that one billion songs have been bought through iTunes, and since the company rolled out video sales, its programming menu has been expanded to include shows from ABC, Bravo, NBC, MTV and Showtime.
Thanks to a couple large Internet video events during the first quarter -- the NCAA Division I college basketball tournament and the 2006 Olympic Winter Games -- Akamai may report some upside, according to analysts. In March, Akamai said it served a record amount of traffic during the NCAA basketball tournament.
EXPECTATIONS: Analysts polled by Thomson Financial expect the company to earn, on average, 16 cents per share on $85.4 million in revenue.
ANALYST TAKE: America's Growth Capital analyst Alicia Yap thinks the company can exceed consensus estimates, thanks to broadened use of music and video downloading and streaming.
Canaccord Adams analyst Mark Kelleher said he'll pay keen attention to the average revenue per customer per month.
"Average revenue per customer per month should hold relatively flat at $14,600. Recall that this number reached a low of $14,000 in the September quarter due to the integration of Speedera and a high number of new customers that quarter (new customers have lower ARPU)," Kelleher wrote in a note.
Kaufman Bros. analyst Ari Moses doesn't expect dramatic upside since much of the company's revenue is subscription based, but he believes there could be some upside, thanks to the NCAA and Olympic events.
STOCK PERFORMANCE: Shares of Akamai, which have traded between $11.14 and $34.62 over the last year, climbed 65 percent during the quarter to a close of $32.89 on March 31. Akamai shares recently traded at $33.96 on the Nasdaq.
====
I bought at $31 last week before the addition to NASDAQ 100 (replaced Chiron). This company will be cash cow in the future. It's a little expensive right now but look at the gross margins. Any significant increase in revenues will really push up earnings.
http://biz.yahoo.com/bw/060208/20060208005998.html?.v=1
From the last earnings release (using fully-diluted share numbers), full-year gross margins are an incredible 80.3%! Add to that [a] no debt and $1.70 or so in cash; $82.7M or $0.485 in operating cash flow. This company has the potential to triple the next 3 years by virtue of increased 'net traffic and content (think streaming video en masse; hundreds of millions of people today, billions tomorrow). Wish I'd bought it at its late-2002 bottom of $0.67!
Wouldn't sell now though. This company is an internet infrastructure play.
Quote from: chakkar on April 25, 2006, 05:58:06 PM
Wouldn't sell now though. This company is an internet infrastructure play.
Agreed. I bought this as a short-term play, but the more I looked into the company the more I liked it and wanted to hold it.
Yeah, buying at 0.67 would have been sweet :)
...now 35 $....
I toyed with the idea of buying AKAM back in Nov. 2005, but never did. I feel really stupid now :)
Been performing stongly, wouldn't be surprised to see it go higher.
AKAM hasn't said its last word ! - believe me...
this is a 50$ stock minimum...'n' you did a mistake without buying it in november.... :-\
Not too late (wait 32-33$ to buy)
D.
I think it's a good play to trade...
Look on 5 days :
http://finance.yahoo.com/q/bc?s=AKAM&t=5d
Now...on 1 year :
http://finance.yahoo.com/q/bc?s=AKAM&t=1y&l=on&z=m&q=l&c=
It seems to have a resistance @ about 30 $
We could see new highs here... Watch for a short entry as the gap from 32-35 has been tugging this one back from each bullish rise... As it closed above resistence of 40.44 it may even be a swing trade long candidate. I will do that one on paper and watch for another short entry as it crosses to new highs or RSI gets above 66 for this one
cheers joe
Do you remember where it was...
http://finance.yahoo.com/q/bc?s=AKAM&t=my&l=on&z=m&q=l&c=
37-38 is a good entry..
D.
New high 4 Akamai : 44,38
look @ the trend....isn't it nice ?
http://stockcharts.com/h-sc/ui?s=AKAM&p=D&b=5&g=0&id=p41164416773
quasi 20 % in one week...What a Bomb ! 8)
http://finance.yahoo.com/q/bc?s=AKAM&t=5d
new high 47,4 $
and not finished !
Id....
I would be careful profit taking might be around the corner. AKAM might actually make a nice short target around high 40s and 50.
I agree, Long term going up .Short term a pull back should be around the corner.
Akclide and Nulz
are either of you playing AKAM on the long side?
I am in full agreement with Shortstocks.com that this puppy is over bought... just that the tech sector is soooo very bullish right now. I may well have jumped into this short too early at 45.40, But i do feel that it will trade below that in the next few weeks...
time will tell
cheers Joe
No, I am not playing it but certainly keeping an eye on it,hoping I am right and it will pull back so I can jump in it.I did buy ADSK today earnings are out on 21st.May be a big surprise to the upside.Good luck
wait40 - 41...it will crash there....
AKAM downgraded today. I shorted today looking to cover between 40-42.
continue to move up strongly !...
50 $ now...
Got stopped out on the short. Lets see if it has enough bull to climb to 50 :).
I'm bearish on AKAM short term, but think that it's great for the long term. I'm holding some Oct puts. I also think that it's a great stock to day trade!
Brigitte
Back at 50.60.... Topping action or consolodation? I am biased because i am holding some short shares, but it is looking toppy to me, 2 doji's and it is trying to break up again today... will watch for now
cheers Joe
Nullzero, others,
Any thoughts on how low this might go. Anyone short?
Brigitte
I am currently short in AKAM I re entered my short at 51 a few days ago. If you are long on AKAM I would cut and run now... and wait for the dust to settle. The markets are going to guide AKAM lower and I expect we are seeing a bearish turn in the markets. The 9 dma and 5 dma are both going below the 20 dma which shows there is a change in direction (bearish). The support held at 46.50 but will it hold next time its tested? AKAM may soon be in the low 40s..
Nullzero:
I had some puts which I sold this morning for a decent gain. Might go lower on Friday into options expiration, but if the market continues it's positive trend, I may buy calls for a run up into earnings. Of course, it depends on what the Feds do next week, etc, etc. I too, agree that we will have a bearish turn in the market, sometime between now and December. But who knows when.
Brigitte
Bounce off the 50dma support today for AKAM. It may have some hope left on the upside. I covered today for over a 10% profit. I rather not speculate on earnings and take profit when I have it.
Bought AKAM at 49.10 near the close. Stop: Below 47.30, the low of the third red arrow, on December 1. Risk: a loss of 3.7%%.
AKAM broke out of a Symmetrical Triangle (pattern in green) on November 7 crossing 48.79, putting targets of 52.93 and 56.95 IN PLAY.
Since then, it looks to be trading in a Bull Flag (pattern in blue).
The red arrows are trendline validations of the up trendline off the Symmetrical Triangle. (Green #2 and #4). The second red arrow along that trendline was an "Oops!" The trendline got violated intraday, but it held at the close.
At the third red arrow on December 1, AKAM held at the trendline, indicating, "Okay, I just was kidding.... that really is support."
I like that. If the stock is lying, I'll stop it out right there.
Yesterday, AKAM took out Friday's high of 49.07, and when it looked like it would close above that, I went ahead and paid 49.10 for it.
AKAM "could" go down and take out my stop, tag the bottom of the Bull Flag, then rally, but I'm not going to like the break of the validated trendline off the Symmetrical Triangle (Green #2 and #4), nor am I going to like the fact that the stock lied to me, telling me that it was "just kidding" about breaking that trendline on the November 28 "Oops!"
:P :D
I'll stop it out below 47.30 (the low of the third red arrow)
Not a bad day for AKAM, given the fact that it was called higher, then ONE MINUTE before the Opening Bell, an analyst on CNBC said that it was fully valued, and not to buy it.
Curses! :P >:D
AKAM still opened higher, but quickly tanked $1.00, to 48.59, then recovered and closed a little in the green. It needs to go up and knock out the top of the Bull Flag (pattern in blue), which comes in today, December 6, at 50.79.
"AKAM" Threads have been Merged.
Please use the search before starting new threads on a Stock Pick.
Chances are a thread already exist.
So why not post whatever you have to comment about on that pick to that thread.
"Simplicity" My fellow traders. ;D
All history on a stock pick in 1 thread is awesome. ;)
Thank You....and good luck with all your trades....make some $$$ 8)
Akam looks like its ready to make a move soon.. I think AKAM can go either way.
Quote from: nullzero on December 06, 2006, 03:55:49 PM
Akam looks like its ready to make a move soon.. I think AKAM can go either way.
nullz,
I'm raising my stop on AKAM.
Quote from: Melf Elf on December 05, 2006, 04:40:51 AM
Yesterday, AKAM took out Friday's high of 49.07, and when it looked like it would close above that, I went ahead and paid 49.10 for it.
Yesterday's low was
49.09, two pennies above that Buy Pivot (and a penny below my entry), then AKAM bounced higher toward the top of the flag.
That's all that want to see of my 49.10 entry getting printed. :P
If AKAM comes back down again near my entry (and yesterday's low), I'll sell with a fractional gain.
Quote from: Melf Elf on December 06, 2006, 03:29:54 AM
It needs to go up and knock out the top of the Bull Flag (pattern in blue), which comes in today, December 6, at 50.79.
Sold 20% of my AKAM at 20.78. Gain: 3.4%
The top of the Bull Flag comes in today at 50.723, so it has broken out to the upside. Sold some to defend against a false breakout.
I'm 80% long. Stop on the rest is a little better than break even.
Quote from: Melf Elf on December 07, 2006, 09:43:57 AM
The top of the Bull Flag comes in today at 50.723, so it has broken out to the upside. Sold some to defend against a false breakout.
The breakout looks good, particularly in today's down market. 100 Day Average Volume is 2.78 million. AKAM already has traded 3.78 million is less than two hours, so the breakout likely will be on 2 times ADV.
As long as the breakout holds up, we've got (refer to daily chart patterns, posted earlier this morning):
Target #1: 52.00 IN PLAY - Top of the Bull Flag
Target #2: 52.93 IN PLAY - Top of the Symmetrical Triangle
Target #3: 56.10 IN PLAY -Bull Flag Measured Move
Target #4: 56.95 IN PLAY - Symmetrical Triangle Measured Move
Nice play Melf you hit this one on the nail.
Quote from: Melf Elf on December 07, 2006, 09:43:57 AM
Sold 20% of my AKAM at 50.78. Gain: 3.4%
Sold another 20% at 52.50, between Targets #1 and #2. Gain: 6.9%
Quote from: Melf Elf on December 07, 2006, 11:26:59 AM
As long as the breakout holds up, we've got (refer to daily chart patterns, posted earlier this morning):
Target #1: 52.00 IN PLAY - Top of the Bull Flag - MADE Dec 7
Target #2: 52.93 IN PLAY - Top of the Symmetrical Triangle
Target #3: 56.10 IN PLAY -Bull Flag Measured Move
Target #4: 56.95 IN PLAY - Symmetrical Triangle Measured Move
Target #1: 52.00 MADE this morning.
Quote from: nullzero on December 07, 2006, 11:28:52 AM
Nice play Melf you hit this one on the nail.
Thanks, Nullz. ;)
Quote from: Melf Elf on December 07, 2006, 11:26:59 AM
As long as the breakout holds up, we've got (refer to daily chart patterns, posted earlier this morning):
Target #1: 52.00 IN PLAY - Top of the Bull Flag - MADE Dec 7
Target #2: 52.93 IN PLAY - Top of the Symmetrical Triangle MADE Dec 7
Target #3: 56.10 IN PLAY -Bull Flag Measured Move
Target #4: 56.95 IN PLAY - Symmetrical Triangle Measured Move
Target #2: 52.93 also MADE today. AKAM now is trading at a new 52-week high.
Kudos Melf (and Applaud)
Nice Trade and read of the chart!!!
Happy holidays to you
Cheers Joe
Quote from: joet on December 09, 2006, 02:44:32 AM
Kudos Melf (and Applaud)
Nice Trade and read of the chart!!!
Happy holidays to you
Cheers Joe
Thanks, Joe, and Happy Holidays to you, as well.
AKAM had spent two months, consolidating the huge gains of 2006. When a chart is this bullish, expect patterns to be "continuation patterns," and to resolve in the direction of the dominant trend.
For shorting a stock like AKAM, it's generally much better to wait for it to break down and short there, or to short a re-test of the breakdown.
In this particular case, the Symmetrical Triangle and The Bull Flag that I posted on the daily chart above were "nested" together within this larger Symmetrical Triangle. A multiple pattern breakout suggests that the stock could be "packing some punch," so to speak,
in the direction of the breakout. On this upside breakout in AKAM, if the shorts didn't cotton to the idea that they were caught in a DOUBLE Bullish pattern breakout, they began to realize it when the stock printed a new high above the top of the pattern, which was 52.93.
In that type of situation, "buying begets buying." Shorts are forced to Buy to Cover, and the breakout players also are Buyers. That, at least in part, explains the big 12 million share day on the breakout.
BTW, I've raised the stop on my remaining 60% long position to a CLOSE back below this Symmetrical Triangle.
Quote from: Melf Elf on December 07, 2006, 01:15:31 PM
Target #1: 52.00 IN PLAY - Top of the Bull Flag - MADE Dec 7
Target #2: 52.93 IN PLAY - Top of the Symmetrical Triangle MADE Dec 7
Target #3: 56.10 IN PLAY -Bull Flag Measured Move
Target #4: 56.95 IN PLAY - Symmetrical Triangle Measured Move
Sold remaining 60% of my AKAM at 56.00. Gain: 14.1%. Gain on the trade: 10½%
Target #3:
56.10 MADE within five cents at the high, so far, of 56.05.
Any thoughts on AKAM? Earnings after the close on Wed, Feb 07. It's gone crazy today.
Just looking for an earnings play.
Thanks,
Brigitte
Quote from: LuckyFish on February 05, 2007, 02:34:34 PM
Any thoughts on AKAM?
Hi, Brigitte,
There already is an AKAM folder, so I merged yours with that one. Please do a Search before starting a new folder. Thanks.
AKAM broke out of a Symmetrical Triangle (red arrow) on January 29, putting targets of 56.80 and 61.40 IN PLAY.
January 30 and February 1, AKAM put in a short-term Double Top at 56.78 and 56.75, near the Symmetrical Triangle high of 56.80, setting up a possible "morph" into an Ascending Triangle, with a flat top at the 56.80...56.78...56.75.
February 2, Maxim downgraded it to $55, which was similar to the downgrade that AKAM got to $50 in December, at that breakout (I forget the analyst).
On the downgrade, AKAM opened at the low of the day, and rallied.
Quote
Earnings after the close on Wed, Feb 07. It's gone crazy today.
Today, it broke out of the Ascending Triangle on news about its involvement with the Super Bowl ads, putting 61.38 IN PLAY, very near the 61.40 target IN PLAY from the Symmetrical Triangle breakout.
Quote
Just looking for an earnings play.
Thanks,
Brigitte
AKAM closed today at 58.18. The "logical stop" would be below the analyst downgrade low of 54.53 on Friday, so your risk would be a loss of 6.3% if you get stopped out.
Your gain if the 61.38 - 61.40 targets get MADE is 5.5%. AKAM "could" go a higher, but there also is no guarantee that the target will get MADE.
Given that the risk is a loss of 6.3%, and the anticipated reward based on the targets IN PLAY is only 5.5%, I would pass on the trade.
Just my opinion, of course. Good luck with whatever you decide.
Melf Elf,
Thank you for your quick reply. You've given me plenty to think about. I may actually end up sitting out the earnings play. If it goes much higher after earnings, I will buy some puts. I think that NullZero has played AKAM before as well. The stock can move a lot, so it makes for a great daytrading stock.
Thanks again!
Brigitte
Yeah I played AKAM before for a quick short profit I believe. Have to check my trading records. Anyway it does move a lot and is a great trading stock lots of liquidity.
What a monster!
AKAM gapped down on earnings, tagged the top of the Symmetrical Triangle, rallied more than $5 intraday, then closed at a new high.
chart update
http://stockcharts.com/h-sc/ui?s=AKAM&p=D&b=5&g=0&id=p59191861522