Akamai Gets Hit By A Tsunami

Akamai Technologies Inc. (NASDAQ:AKAM) is declining sharply this morning after reporting earnings last night. Akamai stock has been one of the leaders in the Nasdaq 100 for several years now. The stock is trading lower by $6.20 to $41.80 a share. This is a 13.0 percent decline for the tech leader. The stock will have short term intra-day support around the $41.00 area. This stock is a falling knife today and could trade below that level if the overall market remain weak.

Akamai Technologies provides services for accelerating and improving the delivery of content and applications over the internet, therefore, today’s decline could effect many other leading internet stocks. Traders and investors should watch for reactions in stocks such as Ebay Inc. (NASDAQ:EBAY), Google Inc. (NASDAQ:GOOG), and Best Buy Inc. (NYSE:BBY), and Sony Corp. (NYSE:SNE).

About Nicholas Santiago 575 Articles

Affiliation: InTheMoneyStocks.com

Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

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