NEW YORK (TheStreet) -- Akamai Technologies (AKAM) shares are down 0.10% to $76.35 on Monday and the cloud computing service provider is the subject of today's Trifecta Stocks 'Chart of the Day'.
Trifecta Stocks' Bryan Ashenberg and Bob Lang praised the company's resilience in today's analysis, noting that Akamai was able to transform itself into a profitable company after surviving a period of extreme valuation and eventual decline.
The days of volatility may be behind the Cambridge, MA-based company as its stock trades at its highest point in over a decade.
Back in the dotcom days, this technology solutions company's stock roared then crashed and burned, but to its credit, Akamai was one of the survivors of an extreme valuation period.
They have transformed their business to be profitable, something nearly unachievable in a prior time.
Today, we see Akamai trading near multi-year highs, and the recent earnings gap down was filled in nicely last week.
The volume on the sell day post earnings was high but that was likely hot money leaving the stock.
The indicators are lined up now for a strong buy signal on Moving Average Convergence Divergence (arrow) and follow- through on the %R oscillator, a momentum indicator measuring overbought and oversold levels. Relative Strength has been impressive.
- Bryan Ashenberg and Bob Lang, "Chart of the Day: AKAM," originally published 5/11/15 on TrifectaStocks.com
Jim Cramer, portfolio manager of the Action Alerts PLUS Charitable Trust, believes that the company's cyber security division is under the radar and could provide hidden value in the future.
"This company has a killer cyber security division that no one is focused on, yet that could help continue to propel the company's stock higher," said Cramer
TheStreet Ratings team rates AKAMAI TECHNOLOGIES INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation: