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Netapp Inc Set to Possibly Pullback After Yesterday's Rally of 2.63%

By James Quinn

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, Netapp Inc share prices have been bracketed by a low of $54.50 and a high of $88.08 and are now at $67.47, 24% above that low price. The 200-day and 50-day moving averages have moved 0.05% lower and 0.82% higher over the past week, respectively.

Keywords: rebounders netapp inc

Ticker(s): NTAP