This stock looks lower based on a classical technical pattern

Posted on by The INO.com Team

This is the first time I have looked at this particular stock and it appears to chart beautifully. The stock I am referring to and analyzing today is Akamai Technologies Inc. The symbol for this stock is AKAM and it is traded on the NASDAQ.

In this short video I share with you a classic chart pattern that I've seen thousands of times before in different markets. The pattern is very reliable and seems to work well most of the time. Some people believe in this type of technical analysis, however, some folks feel that it may as well be voodoo.

For myself, I believe that history and markets repeat themselves based on human nature, which has not changed in thousands of years.

Whether you like or dislike this video, please feel free to comment on our blog.

The video is with our compliments and there is no need to register in order to watch.

All the best,
Adam Hewison
President of INO.com
Co-founder of MarketClub

10 thoughts on “This stock looks lower based on a classical technical pattern”

  1. Friday I shorted AKAM and today collected the Marketclub dues for next year. Thanks, JohnZ

  2. Could you please provide the script of the video ? Just because my English listening is not good enough.

    Thanks a lot

    Hanh

  3. When the video first started, I incorrectly anticipated that you would be comparing the current pattern with the formation in the 4th quarter of '08.

    In that formation there is a double top in a similar time period. This was your first top. Your second top was the one that occurred in the the 2nd quarter of '09. These two tops cover a greater time period than the current situation.

    If the entire pattern were to repeat, then yes, the stock could go to the 35 area, then possibly make an run back to the 45 area over the next several weeks to form a truer repetition of the earlier pattern.

    Wouldn't be more valid to compare patterns over similar time periods?

    1. Paul,

      The answer has to be yes and no. Both patterns are similar. Normally the longer the time frame the longer the move.

      All the best,
      Adam

  4. Are you saying that Dukascopy manipulates the FX feed for ALL their customers just hunt out your stop loss? You must be trading huge size to make that profitable for them.

  5. Hi Nik,

    I use Interactive Brokers for futures, not forex though. Honestly I am not that happy with them, and am about to switch to thinkorswim.com as their platform is way less buggy. I thought their aversion to humans would translate to having the best platform out there but it just isn't, and when it goes tilt it's not always easy to get someone on the phone to eplain where you're at. Dangerous confluence if you ask me.

    I have been an introducing broker for about half a dozen FCM's over the years and I would recommend PFG as a very good option for both forex and futures, several platforms to choose from and they are a well run operation and have always earned my respect.

    Best of luck...

  6. Liked your tech. video on Akimai this time. Reminds one to focus on long term trades as well. Thanks for all your trading video,-been a member about a year and just signed up for another.

  7. Mr. Hewison,

    Oh but you have looked at this stock before. You pointed out a buy signal based on the Market Club trade triangles around March of 2009 at about $19/share. Well it ran up to at least 45 without any major set backs. I would say that was a big winner. So give yourself and Market Club due credit.

    Thank you and your staff for the education

  8. Hello Guys,

    Need your advise. P L E A S E > Do anybody trade thu Dukascopy or Interactive Brokers? I am looking for reliable broker where I can open position from $10/pip up to $500/pip and they will not hunt for stoplosses.

    Thank you in advance,

    Nik

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