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After Yesterday's Rally of 1.59% Shares Could Potentially Pullback

By David Diaz

Netapp Inc (NASDAQ:NTAP) traded in a range yesterday that spanned from a low of $76.33 to a high of $77.50. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $76.48 on volume of 925,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Netapp Inc share prices have been bracketed by a low of $54.50 and a high of $88.08 and are now at $77.49, 42% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.0%.

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