$AKAM now trades below 200-day SMA

Ticker: $AKAM
Highlight: $AKAM dropped below 200-day simple moving average and showing some weakness


Summary: After $AKAM exploded with a bullish breakout in December 2017, it staged an uptrend that got broken in June 2018.  The price sank towards the end of June but jumped back only to get broken down again by strong selling pressure in August all the way to the end of September.  Now, $AKAM eventually dropped below its major support, 200-day simple moving average and there appears to be no significant push to hold the support from the bulls.  It is widely accepted by many that stocks that fall below its major support will likely be in a bearish price action and may risk more selling pressure.

Trading plan: I will be watching from the sideline and will snatch properly sized position if and only if the price bounces and hold a little above its SMA 200.  My stop loss for swing trades like this is almost always SMA 200 minus 2x ATR.


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