NTAP Technical Analysis - NETAPP INC

Technical Rating and Analysis

Overall NTAP gets a technical rating of 6 out of 10. NTAP has been an average performer in the overall market. We also notice some doubts in the very recent evolution, but in the medium term things are still fine.

The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!

NTAP is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so NTAP is lagging the market slightly.

NTAP has an average volume of 2076630 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

When compared to the yearly performance of all other stocks, NTAP outperforms 52% of them, which is more or less in line with the market.

NTAP is part of the Technology Hardware, Storage & Peripherals industry. There are 33 other stocks in this industry, NTAP did better than 40% of them.

In the last month NTAP has a been trading in the 112.63 - 126.66 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

NTAP has an average technical rating and also the quality of the setup is only medium 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.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

99.49

134.46

We found 3 important support areas.

A support zone ranging from 113.94 to 116.27. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Support @104.46 from a trend line in the daily time frame.
Support @100.49 from a horizontal line in the daily time frame.

When analyzing the resistance we notice 2 important areas.

A resistance zone ranging from 125.08 to 126.36. This zone is formed by a combination of multiple trend lines in multiple time frames.
Resistance @133.13 from a horizontal line in the weekly time frame.

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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	UP	POSITIVE	The long term trend for NTAP is up.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for NTAP is neutral.
ChartMill Relative Strength	52.9	NEUTRAL	NTAP is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	DOWN	MIXED	The current price of NTAP is above a declining 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)	52.76	NEUTRAL	The RSI value for NTAP is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.56	NEGATIVE	The MACD value suggests NTAP has a negative trend, although the MACD value is rising.
Stochastics (14,3)	49.79	NEUTRAL	The Stochastics value for NTAP is a neutral value.
Average True Range in percent/ATR (20)	2.66	MEDIUM VOLATILITY	The ATR as a percentage value for NTAP suggests some volalility.
Average Directional Index/ADX (14)	22.16	NEUTRAL	The ADX value for NTAP suggests a possible start of a new trend.