NETAPP INC (NTAP) Stock Technical Analysis
NASDAQ:NTAP - Nasdaq - US64110D1046 - Common Stock - Currency: USD
We assign a technical rating of 6 out of 10 to NTAP. In the past year, NTAP was only an average performing stock in the market. The medium term picture is unclear, although we see some positive events in recent action.
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.
NTAP is one of the better performing stocks in the Technology Hardware, Storage & Peripherals industry, it outperforms 97% of 503 stocks in the same industry.
In the last month NTAP has a been trading in the 98.48 - 108.09 range, which is quite wide. It is currently trading near the high of this range.
NTAP has an average volume of 2184460 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the performance of all stocks over the past year, NTAP turns out to be only a medium performer in the overall market: it outperformed 56% of all stocks.
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 has only a medium technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 106.25. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 105.48, a Stop Loss order could be placed below this zone.
More info and screens
76.07
125.69
We found 3 important support areas.
- A support zone ranging from 104.10 to 106.08. 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 98.00 to 98.33. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @76.84 from a trend line in the weekly time frame.
3 important resistance areas can be observed.
- A resistance zone ranging from 106.70 to 106.70. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @112.50 from a trend line in the daily time frame.
- Resistance @124.45 from a horizontal line in the daily time frame.
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 | 56.11 | NEUTRAL | NTAP is not amongst the best or worst performers 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) | DOWN | NEGATIVE | The current price of NTAP is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 63.91 | NEUTRAL | The RSI value for NTAP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests NTAP has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 85.82 | OVERBOUGHT | The high Stochastics value suggests NTAP may be overbought. |
| Average True Range in percent/ATR (20) | 2.31 | MEDIUM VOLATILITY | The ATR as a percentage value for NTAP suggests some volalility. |
| Average Directional Index/ADX (14) | 19.34 | NEGATIVE | The low ADX value for NTAP suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
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 |
|---|---|---|---|
| 106.26 | 103.33 | 2.93 (2.76%) | 25.00% |
| An entry @106.26. This is a Buy Stop order right above the resistance zone. | An exit @103.33. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 2.93 points, which is 2.76%. | For a 0.69% 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.
106.69
+0.14 (+0.13%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustryTechnology Hardware, Storage & Peripherals
Performance
% Chg0.13%
1 Week0.53%
2 Weeks2.39%
1 Month8.02%
3 Month40.2%
6 Month-8.77%
12 Month-17.35%
2 Year36.76%
3 Year49.57%
5 Year140.84%
10 Year242.5%
15 Year152.22%
Volatility
ATR(14)2.33
ATR(20)%2.31%
ATR Inc-18.58%
Range Today2.47
ADR(20)2.37
ADR(20)%2.22%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS56.11
Mansfield-1.13
10 Day High108.1
10 Day Low101.73
20 Day High108.1
20 Day Low98.48
52 Week High135.45
52 Week Low71.84
CS1 End105.48
CR1 Start106.25
Volume & EV
DER(3)0.8%
DER(5)0.94%
Volume1.49M
Volume Incr-25.24%
Vol(5)2.05M
Vol(50)2.18M