Get Long Akamai Technologies

When the market is so rough, sometimes it is hard to find a stock building up a positive trend; however, when you come across one, it tends to stick out.

We never really like to call a bottom. Instead, we would prefer to trade somewhere in between the bottom and top. I mentioned Akamai about a week back, and it seems to have built up on its position.

Akamai Technologies (AKAM) has recently made a nice run off its low of $12, and has just passed a resistance at around $17. I think this creates a pretty substantial base for higher price movement.

Right now Akamia allows us to enter with a very tight stop area, so we prevent minimal loss. If it falls back down below that resistance turned support, then we know the trade is dead. On the other hand, if the stock moves higher like it is supposed to, then I see a good price target of $25.

Don’t take my word on it alone. MarketClub apparently loves this stock as well.