New 52 Week Highs: Akamai Technologies Inc. (AKAM)

By Tim - http://blackberrystocks.com

Shares of Akamai Technologies Inc. (AKAM) hit a fresh 52 week high this morning at $46.92. Akamai Technologies Inc. has been on fire recently after reporting quarterly earnings earlier in the week.

There has been renewed speculation that a big technology out there is taking a hard look at Akamai. A guest on CNBC last night mentioned Google Inc (GOOG) but said that this was unlikely due to past acquisitions by Google Inc.

Looking at the historical chart, Akamai will face stiff resistance located at $50. While I would not go short up there, I'd think about taking 1/3 of my long position off the table.

Check out my 2010 stock picks, I will have a new 2011 list available very soon.

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