Friday, January 12, 2007
Chart: AKAM
AKAM (Alkamai Technologies, Inc.) has been on my bearish list of late, but things have changed since the stock followed through today off a bullish englulfing candle pattern. Also note that the MACD looks ready to turn positive. Things will get interesting if the stock can clear recent highs on decent sized volume.
Subscribe to:
Post Comments (Atom)
3 comments:
ugly candle from AKAM today - distribution? volume just ok...
was rejected at long term up trendline
will be watching on tuesday for weakess/short entry
how do you like SPG for RSI negative divergence?
REIT stocks in general are very toppy
Walter,
Yes, negative divergence at highs and a high volume day of indecision leads me to believe the stock may top out, at least in the very short term. However, I would wait for confirmation before entry (breakdown below old high)--that's my style, altough you may be more aggressive than I. I know I entered early on the GROW trade, but there were more negative clues with GROW. For example, MACD was also negative, whereas SPG has a positive MACD reading.
Post a Comment