Akamai Technologies (AKAM) Just Overtook the 20-Day Moving Average

Akamai Technologies (AKAM) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, AKAM broke through the 20-day moving average, which suggests a short-term bullish trend.The 20-day simple moving average is a popular trading tool. It provides a look back at a stock's price over a 20-day period, and is beneficial to short-term traders since it smooths out price fluctuations and provides more trend reversal signals than longer-term moving averages.The 20-day moving average can show signals that are similar to other SMAs as well. If a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.AKAM could be on the verge of another rally after moving 20.5% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.Looking at AKAM's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 8 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.Investors should think about putting AKAM on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.Zacks' Research Chief Picks Stock Most Likely to "At Least Double"Our experts have revealed their Top 5 recommendations with money-doubling potential – and Director of Research Sheraz Mian believes one is superior to the others. Of course, all our picks aren’t winners but this one could far surpass earlier recommendations like Hims & Hers Health, which shot up +209%.See Our Top Stock to Double (Plus 4 Runners Up) >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Akamai Technologies, Inc. (AKAM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks