Akamai (AKAM) has been a long-term winner… but the short-term has been rough and may continue to be for a while longer.
The lower double top in AKAM is a very negative technical pattern. In short, the stock price broke below $105 support. Then it formed a double top at $105 resistance.
The stock has been in distribuition for weeks and looks poised to head lower yet.
The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.