Trade Update - Akamai
One of my recent trades, Akamai Tech (AKAM), has started to have a nice move in the last several days.
I am not ready to get out yet, but I think I may hedge a little of my long expsoure as the stock nears some resistance.
The stock is approaching its overhead 200-day average, which could act as resistance the first time it is tested. Also, a look at the stochastics on the chart shows that the stock is also well into overbought territory as it approaches said resistance level.
As such, I am going to decrease my long exposure slightly, with the expectation that AKAM pulls back a little before ultimately getting through these resistance levels and back into the $50s.
long AKAM
posted by J. Kahn @ 9:56 AM
2 comments
2 Comments:
you can also see that the volume has not been very stellar since Monday even thought the stock has moved another 4-5%. Seems to me the hedging is the best strategy but congrats on the profit so far
i think so. but I likely won't keep this hedge on for long. i think growth stocks are gaining attention--
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