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After Yesterday's Rally of 1.51% Shares Could Potentially Pullback

By James Quinn

NetApp (NASDAQ:NTAP) traded in a range yesterday that spanned from a low of $24.25 to a high of $24.91. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $24.71 on volume of 1.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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

Over the past year, NetApp has traded in a range of $20.66 to $36.98 and is now at $24.84, 20% above that low. The 200-day and 50-day moving averages have moved 0.57% lower and 0.54% lower over the past week, respectively.

Keywords: rebounders NetApp

Ticker(s): NTAP