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.
- When comparing the yearly performance of all stocks, we notice that NTAP is one of the better performing stocks in the market, outperforming 74% of all stocks.
- In the last month NTAP has a been trading in the 94.89 - 113.78 range, which is quite wide. It is currently trading near the high of this range.
- NTAP has an average volume of 2270170 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- NTAP is an average performer in the Technology Hardware, Storage & Peripherals industry, it outperforms 61% of 37 stocks in the same industry.
- 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.
NTAP Weekly and Daily overview Charts
NTAP Setup Rating and Analysis
NTAP has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 111.19, a Stop Loss order could be placed below this zone.
More info and screens
NTAP Support and Resistance Analysis
93.17
When analyzing the support we can see 3 important areas.
- A support zone ranging from 109.49 to 111.19. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 95.67 to 98.22. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @94.11 from a horizontal line in the daily time frame.
When analyzing the resistance we notice 2 important areas.
- Resistance @121.33 from a trend line in the weekly time frame.
- A resistance zone ranging from 125.16 to 126.36. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | 74.76 | POSITIVE | NTAP has a high relative strength, it outperformed 74.76% 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 | POSITIVE | The current price of NTAP is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 66.56 | NEUTRAL | The RSI value for NTAP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.66 | POSITIVE | The MACD value suggests NTAP has a positive trend. |
| Stochastics (14,3) | 82.07 | OVERBOUGHT | The high Stochastics value suggests NTAP may be overbought. |
| Average True Range in percent/ATR (20) | 2.83 | MEDIUM VOLATILITY | The ATR as a percentage value for NTAP suggests some volalility. |
| Average Directional Index/ADX (14) | 22.94 | NEUTRAL | The ADX value for NTAP suggests a possible start of a new trend. |
NTAP Chart- and CandleStick Pattern Analysis
NTAP Example Setup
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 113.79 | 109.48 | 4.31 (3.79%) | 25.00% |
| An entry @113.79. This is a Buy Stop order right above the 10 day high. | An exit @109.48. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 4.31 points, which is 3.79%. | For a 0.95% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of NTAP. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
NTAP Technicals: Chart, Performance Metrics, Trend & Indicators
112.08
+1.31 (+1.18%)
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 66.5574. 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 0.655516, indicating a bearish trend.
What are the support and resistance levels for NETAPP INC (NTAP) stock?
NETAPP INC (NTAP) has a support level at 111.19 and a resistance level at 121.33. Check the full technical report for our detailed analysis of NTAP support and resistance levels.