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Stocks Under $10 with 50-100% upside potential - 14 days FREE!

5 Stocks Insiders Love Right Now

Akamai Technologies

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One more stock to consider is Akamai Technologies (AKAM), which provides services for accelerating and improving the delivery of content and applications over the Internet, from live and on-demand streaming videos to conventional content on Web pages to tools that help people transact business. Insiders are buying this stock into weakness, since shares are off by 13% so far in 2013.

Akamai Technologies has a market cap of $6.3 billion and an enterprise value of $5.7 billion. This stock trades at a reasonable valuation, with a trailing price-to-earnings of 31.62 and a forward price-to-earnings of 16.10. Its estimated growth rate for this year is 6.6%, and for next year it's pegged at 14%. This is a cash-rich company, since the total cash position on its balance sheet is $437.32 million and its total debt is zero.

The CEO just bought 30,000 shares, or about $1.04 million worth of stock, at $34.75 per share.

From a technical perspective, AKAM is currently trending below both its 50-day and 200-day moving averages, which is bearish. This stock has been downtrending for the last two months, with shares falling from its high of $39 to its recent low of $34.26 a share. During that downtrend, shares of AKAM have been mostly making lower highs and lower lows, which is bearish technical price action. That said, AKAM has started to rebound off that $34.26 low and is now quickly moving within range of triggering a near-term breakout trade.

If you're bullish on AKAM, then look for long-biased as long as this stock is trending above some near-term support at $34.26, and then once it breaks out above some near-term overhead resistance at $35 and above its 200-day moving average at $36.42 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 3.87 million shares. If that breakout hits soon, then AKAM will set up to re-test or possibly take out its 50-day moving average of $38.03 a share. Any high-volume move above its 50-day will then put $39 to $40 into range for shares of AKAM.

To see more stocks with notable insider buying, check out the Stocks With Big Insider Buying portfolio on Stockpickr.

-- Written by Roberto Pedone in Winderemere, Fla.

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At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.

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