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Netapp Inc Crosses Below its 10-day MA (NTAP)

By David Diaz

Today, shares of Netapp Inc (NASDAQ:NTAP) have crossed bearishly below their 10-day moving average of $38.50 on a volume of 226K 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, shares of Netapp Inc have traded between a low of $22.89 and a high of $45.24 and are now at $38.38, which is 68% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.5% while the 200-day MA has slid 0.6%.

SmarTrend recommended that its subscribers protect gains by selling shares of Netapp Inc on August 10th, 2017 by issuing a Downtrend alert when the shares were trading at $41.73. Since that call, shares of Netapp Inc have fallen 7.4%. 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