• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • Trifecta Stocks
  1. Home
  2. / Investing
  3. / Technology

With a Quant Upgrade, Akamai Technologies Stock Hits the Trifecta

A quantitative buy. Strong daily and monthly bar charts. An incredible Point and Figure chart with a big upside target.
By BRUCE KAMICH
May 10, 2018 | 03:16 PM EDT
Stocks quotes in this article: AKAM

Akamai Technologies Inc. (AKAM) was upgraded Thursday to a buy by TheStreet's Quant Ratings service. I took some time to look at the charts and indicators of AKAM and found that prices were on the verge of a very important upside breakout. Got your attention?

In this daily bar chart of AKAM, below, we can see a strong rally from August. There is a runaway or measuring gap in December. Prices are above both the 50-day and the 200-day moving averages. The 50-day line has provided support and was tested several times in February and April. You can see a bullish golden cross of the 50-day and 200-day averages in early December.

The rising On-Balance-Volume (OBV) line helps to confirm the strength of the advance. The trend-following Moving Average Convergence Divergence (MACD) oscillator has been above the zero line since early October and is turning up again to a fresh go long signal.

In this weekly chart of AKAM, below, we went back four years to show how important the price level is -- AKAM is poised to break out over the highs of 2015. Prices are well above the rising 40-week moving average line. The weekly OBV line has been moving in the right direction with prices and the weekly MACD oscillator is close to crossing to the upside for a new buy signal.

In this weekly Point and Figure chart of AKAM, below, we can see a large base going back to 2015. A weekly (Friday) trade at $79.00 will be a major upside breakout for this stock. The base measures to the $112 area and maybe higher.

Bottom line: A quantitative buy. Strong daily and monthly bar charts. An incredible Point and Figure chart with a big upside target. Do I like the long side? Heck yeah. Traders could go long AKAM at current levels and look to add above $79. Risk below $73 for traders and below $70 for investors. The $110 area is my target for now.

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are restricted from trading individual securities.

TAGS: Investing | U.S. Equity | Technology

More from Technology

In Awe of Marvell's Rally? Check the Charts, Not Your Emotions

Bruce Kamich
May 27, 2022 2:03 PM EDT

Here's why you should stay nimble as you approach MRVL after its post-earnings upswing.

This DXC Technology Rally Has Staying Power

Bruce Kamich
May 27, 2022 11:38 AM EDT

Here's our trading strategy.

Alibaba Shares Spurt Higher, but Drags on the Online Giant Lurk

Alex Frew McMillan
May 27, 2022 9:14 AM EDT

China's ongoing fight against COVID threatens to make the going tough for companies that do business there.

Thursday's Action Was Promising For Those Awaiting a Bear Market Bounce

Bob Byrne
May 27, 2022 8:30 AM EDT

The post-earnings rebounds of Snowflake and Nvidia plus the rally in the major indexes gave traders reasons for hope, at least in the near term.

Don't Change the Channel on Roku

Bruce Kamich
May 27, 2022 7:37 AM EDT

Here's why the shares could stage a recovery.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 10:58 AM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    The tremendous power of the sell button.
  • 02:46 PM EDT STEPHEN GUILFOYLE

    We're Shedding Some of This Holding on Strength

    Check out the Stocks Under $10 portfolio here!
  • 11:33 AM EDT PETER TCHIR

    Thoughts Ahead of the Fed Minutes

    Recent economic and earnings issues are convincing...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2022 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login