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Watch for Netapp Inc to Potentially Rebound After Falling 2.25% Yesterday

By James Quinn

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.

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.

In the past 52 weeks, shares of Netapp Inc have traded between a low of $44.55 and a high of $83.95 and are now at $50.22, which is 13% above that low price. The 200-day and 50-day moving averages have moved 0.16% lower and 0.93% lower over the past week, respectively.

Keywords: rebounders netapp inc

Ticker(s): NTAP