NETAPP INC (NTAP) Technical Analysis
NASDAQ:NTAP • US64110D1046
Current stock price
NTAP Technical Rating and Analysis
We assign a technical rating of 7 out of 10 to NTAP. Although NTAP has been one of the better performers in the overall market, we have a mixed picture in the medium term time frame. But recently some decent action can be observed again.
- The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
- Looking at the yearly performance, NTAP did better than 71% of all other stocks.
- NTAP has an average volume of 2315630 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- NTAP is part of the Technology Hardware, Storage & Peripherals industry. There are 37 other stocks in this industry, NTAP did better than 63% of them.
- NTAP is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so NTAP is lagging the market.
- In the last month NTAP has a been trading in the 94.89 - 113.78 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
NTAP Weekly and Daily overview Charts
NTAP Setup Rating and Analysis
Although NTAP has an excellent technical rating, it does not present a decent entry opportunity at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
NTAP Support and Resistance Analysis
93.17
We found 3 important support areas.
- A support zone ranging from 101.56 to 103.16. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @95.93 from a horizontal line in the weekly time frame.
- A support zone ranging from 94.11 to 94.11. This zone is formed by a combination of multiple trend lines in the daily time frame.
We can see 3 important resistance areas.
- A resistance zone ranging from 111.50 to 111.80. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Resistance @121.46 from a trend line in the weekly time frame.
- Resistance @126.00 from a horizontal line in the weekly time frame.
NTAP Technical Indicator Signal Analysis
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | NEUTRAL | NEUTRAL | The long term trend for NTAP is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for NTAP is up. |
| ChartMill Relative Strength | 71.74 | POSITIVE | NTAP has a high relative strength, it outperformed 71.74% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of NTAP is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of NTAP is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | MIXED | The current price of NTAP is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 61.01 | NEUTRAL | The RSI value for NTAP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 1.09 | POSITIVE | The MACD value suggests NTAP has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 76.69 | NEUTRAL | The Stochastics value for NTAP is a neutral value. |
| Average True Range in percent/ATR (20) | 3.13 | MEDIUM VOLATILITY | The ATR as a percentage value for NTAP suggests some volalility. |
| Average Directional Index/ADX (14) | 21.56 | NEUTRAL | The ADX value for NTAP suggests a possible start of a new trend. |
NTAP Chart- and CandleStick Pattern Analysis
NTAP Technicals: Chart, Performance Metrics, Trend & Indicators
108.71
+0.31 (+0.29%)
NETAPP INC / NTAP TA FAQ
What is the ChartMill technical rating of NETAPP INC (NTAP) stock?
ChartMill assigns a technical rating of 7 / 10 to NTAP.
What is the current trend direction of NETAPP INC (NTAP) stock?
The current trend direction for NETAPP INC (NTAP) is Bearish.
What is the RSI signal for NTAP stock?
NETAPP INC (NTAP) has an RSI value of 61.0106. This indicates that the stock is currently neutral.
Can you provide the MACD signal for NETAPP INC?
The MACD indicator for NETAPP INC (NTAP) has a value of 1.09217, indicating a bullish trend.
What are the support and resistance levels for NETAPP INC (NTAP) stock?
NETAPP INC (NTAP) has a support level at 103.16 and a resistance level at 111.5. Check the full technical report for our detailed analysis of NTAP support and resistance levels.