The Greedy Trader Weekly Analysis
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Weekly W%R:> 90
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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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- 5/17/2024 -
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Akamai Technologies (AKAM) Technical Analysis

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Summary:
Weekly :Broken trend support lineRelative Strength Index, Williams' Percentage Range and Lane's Stochastic are oversoldStochastic has raised above the signal lineLane's Stochastic bullish divergence
Daily :20 Day Moving Average has crossed above the 50 Day Moving Average
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It was a first positive week for the Akamai Technologies (AKAM). During the week, the AKAM gained 4.02 points, or 4.41%, and closed at 95.21 on Friday, May 17, 2024. It was the best weekly gain since December 15, 2023. Weekly volume was 69% above average.

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 Descending Wedge chart pattern. The trend support level is at 57.78 and resistance is at 120.47. 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening 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 (132.70) is broken. A broken support is considered to be a long-term bearish signal. 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 Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Weekly Lane's Stochastic has bullish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is below its signal line since February 9, 2024. The distance between MACD and the signal line is near its high and getting bigger. 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 April 29, 2024 at 102.83 and reached 90.53 on May 10, 2024. AKAM lost 12.30 points, or 11.96%, in 11 days. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern.

Daily Technical Indicators: [See AKAM daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since May 9, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.

During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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) 37.31
Williams' Percentage Range (W%R) 50.60
Lane's Stochastic (%D-Slow) 37.72
Greed/Fear Indicator (GFI) 41.49
Moving Average Converg./Diverg. (MACD) -2.27
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 17.29
Oversold
Williams' Percentage Range (W%R) 84.30
Oversold
Lane's Stochastic (%D-Slow) 14.04
Oversold Bullish
Greed/Fear Indicator (GFI) 23.70
Moving Average Converg./Diverg. (MACD) 0.04 Bullish
Trading Signals
Description Value Chart
Upper Bollinger Band 105.77
50 Day Moving Average 103.77
20 Day Moving Average 99.27
Monthly Trendline Resistance 98.60
Monthly Trendline Support 97.41
Daily Stochastic Crossing 95.30
Price 95.21
Weekly Stochastic Crossing 93.82
Lower Bollinger Band 92.22
Parabolic System 91.76
Sector and Industry
Description Name Rank
Sector Information Technology 4
Industry Internet Services & Infrastructure 16
Daily Trend
Description Value
Direction Down
Chart Pattern Broadening Right-Angled, Descending Wedge
High 102.83
High Date 04/29/2024
Low 90.53
Low Date 05/10/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 113.36
High Date 03/08/2024
Low 90.53
Low Date 05/10/2024
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Support
Resistance 98.60
Support 97.41
High 129.16
High Date 02/09/2024
Low 90.53
Low Date 05/10/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 142.35
Support 132.70
Low 70.65
Low Date 03/13/2023
High 129.16
High Date 02/09/2024
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 120.47
Support 57.78
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.