Despite the bear Flag and rising wedge, I am still watching this one. AKAM broke bottom trendline of rising wedge today. Rising wedges are bearish as a rule and are not valid until bottom trendline is broken. There is a lack of healthy pull backs, with missing touches to bottom trendline, and it interrupts supply and demand. I do not buy a stock inside of a rising narrowing wedge. After it falls out, I wait a while to see how far it will fall. When the 5 day MA crosses up and through the 20 MA, or gets close, I buy if interested.
AKAM also broke through bottom of bollinger bands using a 80 day moving average. This represents extreme selling pressure, but I find it bullish at times due to a lot of the sellers are gone..leaving stock free to rise when the time is right. The time does not feel right..yet )o:
Unfortunately, quite a few others were thinking the same thing and too many folks bought this too fast causing a bearish rising wedge.
Anyway, still watching but too many bears hunting this one right now. It will return/strong stock
Just an observation
I have often wondering why some stocks get stuck in these patterns and another does not. Obviously there are some issues but I have not researched the fundamentals for any changes yet.
AKAM also broke through bottom of bollinger bands using a 80 day moving average. This represents extreme selling pressure, but I find it bullish at times due to a lot of the sellers are gone..leaving stock free to rise when the time is right. The time does not feel right..yet )o:
Unfortunately, quite a few others were thinking the same thing and too many folks bought this too fast causing a bearish rising wedge.
Anyway, still watching but too many bears hunting this one right now. It will return/strong stock
Just an observation
I have often wondering why some stocks get stuck in these patterns and another does not. Obviously there are some issues but I have not researched the fundamentals for any changes yet.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.