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Netapp Inc (NTAP) Approaches New Downside Target of $68.84

By Shiri Gupta

Shares of Netapp Inc (NASDAQ:NTAP) opened today below their pivot of $69.72 and have already reached the first level of support at $69.26. Analysts will be watching for a cross of the next downside pivot targets of $68.84 and $67.96.

Netapp Inc has overhead space with shares priced $68.81, or 2.5% below the average consensus analyst price target of $70.55. The stock should find initial resistance at its 50-day moving average (MA) of $70.41 and further resistance at its 200-day MA of $72.27.

Over the past year, Netapp Inc has traded in a range of $54.50 to $88.08 and is now at $68.81, 26% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.3%.

SmarTrend is monitoring the recent change of momentum in Netapp Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Netapp Inc in search of a potential trend change.

Keywords: pivot alerts netapp inc

Ticker(s): NTAP