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Bearish Moving Average Cross by Netapp Inc (NTAP)

By Amy Schwartz

Today, shares of Netapp Inc (NASDAQ:NTAP) have fallen below their 10-day MA of $58.88 on a volume of 334K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Netapp Inc has traded in a range of $54.50 to $88.08 and is now at $57.78, 6% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 1.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Netapp Inc on May 6th, 2019 by issuing a Downtrend alert when the shares were trading at $70.60. Since that call, shares of Netapp Inc have fallen 16.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses netapp inc

Ticker(s): NTAP