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After Yesterday's Decline of 4.37%, Netapp Inc Offers Investors Better Value

By Amy Schwartz

Netapp Inc (NASDAQ:NTAP) traded in a range yesterday that spanned from a low of $65.38 to a high of $68.01. Yesterday, the shares fell 4.4%, which took the trading range below the 3-day low of $66.00 on volume of 711,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Netapp Inc has traded in a range of $52.00 to $88.08 and is now at $65.49, 26% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 1.4%.

SmarTrend is tracking the current trend status for Netapp Inc and will alert subscribers who have NTAP in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders netapp inc

Ticker(s): NTAP