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Netapp Inc: 52-Week High Recently Eclipsed (NTAP)

By David Diaz

Netapp Inc (NASDAQ:NTAP) traded today at a new 52-week high of $81.32. This new high was reached on below average trading volume as 328,000 shares traded hands, while the average 30-day volume is approximately 2.9 million shares.

Over the past year, Netapp Inc has traded in a range of $37.55 to $81.32 and is now at $81.07, 116% above that low. The 200-day and 50-day moving averages have moved 0.93% higher and 1.01% higher over the past week, respectively.

NetApp, Inc. provides storage and data management solutions. The Company's storage solutions include specialized hardware, software, and services that provide storage management for open network environments. NetApp serves enterprises, government agencies, and universities worldwide.

Netapp Inc (NASDAQ:NTAP) defies analysts with a current price ($81.07) 13.0% above its average consensus price target of $70.55. The stock should find initial support at its 50-day moving average (MA) of $73.27 and further support at its 200-day MA of $60.78.

SmarTrend recommended that subscribers consider buying shares of Netapp Inc on June 4th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $70.40. Since that recommendation, shares of Netapp Inc have risen 13.1%. We continue to monitor NTAP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows netapp inc

Ticker(s): NTAP