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Netapp Inc Bearish Moving Average Crossover Alert (NTAP)

By David Diaz

Netapp Inc (NASDAQ:NTAP) shares have crossed bearishly below their 10-day moving average of $46.50 on a volume of 271K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Netapp Inc share prices have been bracketed by a low of $44.55 and a high of $88.08 and are now at $46.33, 4% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.5% while the 200-day MA has slid 0.6%.

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 33.4%. 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