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SmarTrend Watching for Potential Pullback in Shares of Netapp Inc After 2.40% Gain

By Amy Schwartz

Netapp Inc (NASDAQ:NTAP) traded in a range yesterday that spanned from a low of $80.00 to a high of $82.00. Yesterday, the shares gained 2.4%, which took the trading range above the 3-day high of $80.03 on volume of 1.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Netapp Inc share prices have moved between a 52-week high of $82.00 and a 52-week low of $37.55 and are now trading 117% above that low price at $81.46 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.9% while the 50-day MA has advanced 1.0%.

SmarTrend recommended that subscribers consider buying shares of Netapp Inc on June 4th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $70.40. Since that recommendation, shares of Netapp Inc have risen 13.1%. We continue to monitor NTAP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders netapp inc

Ticker(s): NTAP