Akamai Technologies (NASDAQ:AKAM)

Akamai Technologies, Inc. provides content delivery and cloud infrastructure services for accelerating and improving applications over the Internet in the United States and internationally. The company offers application and cloud performance solutions to enhance the operation of the applications used by enterprises to connect with their employees, suppliers, and customers. Its solutions include Web Application Accelerator, which enables enterprises to run various applications; and IP Application Accelerator that is designed to optimize the performance, availability, and real-time sensitivity associated with IP-enabled applications delivered over Internet-related protocols. The company also provides video and software solutions that are designed to enable enterprises to execute their large file management and distribution strategies, which include media delivery solution to entertainment industry; and electronic software delivery solution that handles the distribution of software for its customers. In addition, it offers Website optimization services for accelerating business-to-consumer Websites that integrate collaborative content and applications into their online architecture; security and protection solutions that address the Internet security requirements; and network operator solutions, which provide custom solutions to commercial and government customers.

To review Akamai’s stock, please take a look at the 1-year chart of AKAM (Akamai Technologies, Inc.) below with my added notations:

AKAM had been working its way higher since its June bottom. Along the way, AKAM formed an uptrending support level (brown) and for the last (3) months the stock had been hitting resistance at $40 (navy). At some point one of those (2) levels would have to break. Well, last week the stock broke through the $40 resistance and hit a new 52-week high.