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Netapp Inc Set to Possibly Rebound After Yesterday's Selloff of 1.42%

By James Quinn

Netapp Inc (NASDAQ:NTAP) traded in a range yesterday that spanned from a low of $60.91 to a high of $62.44. Yesterday, the shares fell 1.4%, which took the trading range below the 3-day low of $61.33 on volume of 615,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Netapp Inc share prices have moved between a 52-week high of $88.08 and a 52-week low of $54.50 and are now trading 13% above that low price at $61.42 per share. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 0.9%.

SmarTrend recommended that its subscribers protect gains by selling shares of Netapp Inc on May 6th, 2019 by issuing a Downtrend alert when the shares were trading at $70.60. Since that call, shares of Netapp Inc have fallen 12.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders netapp inc

Ticker(s): NTAP