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Weekly W%R Divergence:Bullish
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Williams' Percentage Range (W%R)

Williams' %R is an effective momentum indicator that measures overbought/oversold levels. Like other indicators, W%R ranges between 0% and 100% , but in opposite to the other indicators, the 0% indicating overbought and 100% - the oversold stocks. W%R measures the closing price in relation to the recent low/high range. A bullish signal is generated when the W%R has reached 100, five time bars have elapsed, and the W%R has subsequently fallen to 95. A reverse signal is considered as bearish. For the sake of simplicity, the W%R closed above 10% is considered bearish and below 90% - bullish. In trending markets, the W%R stays at one end of the scale and gives false signals to trade against the trend. That is why W%R is not considered a stand-along technique, and it is essential to use it with some sort of trend formation indicators. The divergence between price and W%R rarely occurs and presents an important buy/sell signal. As our research shows, the W%R move to upper or lower bounds can be used as an earliest signal of an impending reversal. Using the Williams %R bullish divergence/bearish divergence, chart patterns, trendlines, support, and resistance lines along with the W%R chart can be very useful.

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- 2/16/2024 -
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Akamai Technologies (AKAM) Technical Analysis

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Summary:
Weekly :Overbought sectorStochastic has declined below the signal lineWeekly  MACD line has moved below its signal lineBroken trend support line
Daily :Stochastic has declined below the signal lineDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARThe price is below the lower Bollinger BandWilliams' Percentage Range is oversoldPrice has crossed below the 50 Day Moving Average
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It was the negative week for the Akamai Technologies (AKAM). During the week, the AKAM dropped -19.13 points, or -14.91%, and closed at 109.19 on Friday, February 16, 2024. Weekly volume was 149% above average.

AKAM is a member of Information Technology Sector. Information Technology is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See AKAM long-term trend chart]
A long-term downtrend had started on January 27, 2021 at 124.91 and reached 70.65 on March 13, 2023. AKAM lost 54.26 points, or 43.44%, in 110 weeks. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 60.50 and resistance is at 120.81. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a long-term trend.

Medium-term trend: [See AKAM medium-term trend chart]
A medium-term uptrend had started on March 13, 2023 at 70.65 and reached 129.16 on February 9, 2024. AKAM gained -58.51 points, or -82.82%, in 47 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (121.49) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. AKAM may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.

Weekly Technical Indicators: [See AKAM weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.

Short-term trend: [See AKAM short-term trend chart]
A short-term downtrend had started on February 9, 2024 at 129.16 and reached 108.86 on February 16, 2024. AKAM lost 20.30 points, or 15.72%, in 7 days. Price is near the trend low.

Daily Technical Indicators: [See AKAM daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Use the following link to access Williams' Percentage Range help.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 20.55
Williams' Percentage Range (W%R) 89.20
Oversold
Lane's Stochastic (%D-Slow) 26.51
Greed/Fear Indicator (GFI) 19.28
Oversold
Moving Average Converg./Diverg. (MACD) 1.12
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.44
Williams' Percentage Range (W%R) 64.60
Lane's Stochastic (%D-Slow) 78.66
Greed/Fear Indicator (GFI) 53.74
Moving Average Converg./Diverg. (MACD) 6.31
Trading Signals
Description Value Chart
Upper Bollinger Band 130.57
Quarterly Trendline Resistance 129.38
Parabolic System 127.38
Weekly Stochastic Crossing 124.56
20 Day Moving Average 122.75
Quarterly Trendline Support 121.49
Yearly Trendline Resistance 120.81
50 Day Moving Average 119.59
Daily Stochastic Crossing 111.30
Lower Bollinger Band 110.92
Price 109.19
Sector and Industry
Description Name Rank
Sector Information Technology 10
Industry Internet Services & Infrastructure 33
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 129.16
High Date 02/09/2024
Low 108.86
Low Date 02/16/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 129.16
High Date 02/09/2024
Low 108.86
Low Date 02/16/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 129.16
High Date 02/09/2024
Low 108.86
Low Date 02/16/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 129.38
Support 121.49
Low 70.65
Low Date 03/13/2023
High 129.16
High Date 02/09/2024
Description Value
Direction Down
Chart Pattern Broadening Right-Angled, Descending Wedge
Status Valid
Resistance 120.81
Support 60.50
High 124.91
High Date 01/27/2021
Low 70.65
Low Date 03/13/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.