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Netapp Inc Rises 2.63% on Heavy Volume: Watch For Potential Pullback

By David Diaz

Netapp Inc (NASDAQ:NTAP) traded in a range yesterday that spanned from a low of $65.96 to a high of $67.47. Yesterday, the shares gained 2.6%, which took the trading range above the 3-day high of $66.18 on volume of 1.3 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 recommended that subscribers consider buying shares of Netapp Inc on January 18th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $62.81. Since that recommendation, shares of Netapp Inc have risen 4.7%. We continue to monitor NTAP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, shares of Netapp Inc have traded between a low of $54.50 and a high of $88.08 and are now at $67.47, which is 24% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.

Keywords: rebounders netapp inc

Ticker(s): NTAP