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SmarTrend Watching for Potential Rebound in Shares of Netapp Inc After 2.25% Loss

By Shiri Gupta

Netapp Inc (NASDAQ:NTAP) traded in a range yesterday that spanned from a low of $48.81 to a high of $50.53. Yesterday, the shares fell 2.2%, which took the trading range below the 3-day low of $50.54 on volume of 2.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Netapp Inc has traded in a range of $44.55 to $83.95 and is now at $50.22, 13% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.9%.

SmarTrend is tracking the current trend status for Netapp Inc and will alert subscribers who have NTAP in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders netapp inc

Ticker(s): NTAP