For the second time in two months, Akamai (AKAM) gapped down from resistance at 46. The stock first hit resistance here in mid June and gapped down in late June. AKAM moved back to resistance in July, but failed again with another gap and high-volume decline.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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