AKAM being one of the more profitable companies in the computer service industry has a great pre-break-out chart set up as well, lets take a look.
Above we have the following.
- Stochastic Over-Sold Crossing Signal.
- Momentum turning towards a reversal across the 100 line, which is the confirmation to buy.
- A reliable Ascending Triangle Chart Pattern.
Bollinger Analysis
- We can also see here from our Bollinger Analysis is that the bands have contracted, indicating that a breakout, either being up or down is due here relatively soon, and since AKAM is in a consolidating oscillating range, using oscillators is the best way to determine if it is under or over priced.
- Based off of the evidence the indicatoror's suggest that both Bollinger %B and CCI as well as Stochastic & Momentum indactors show that AKAM is oversold greatly.
- Evidence also suggests AKAM is poised to break-out upwards
All in all, what we have is a financially strong, profitable company, that based off of Technical Analysis is greatly oversold and is poised to climb to a solid $40.00 in the next 3 weeks.
Position: Strong Buy
Target Price: $40.50-$41.00