NETAPP INC (NTAP) Technical Analysis
NASDAQ:NTAP • US64110D1046
Current stock price
NTAP Technical Rating and Analysis
Taking everything into account, NTAP scores 3 out of 10 in our technical rating. NTAP has been an average performer in the overall market. Recently some decent action could be observed, but in the medium term time frame this is still negative.
- The long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.
- NTAP has an average volume of 2443950 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- Looking at the yearly performance, NTAP did better than 70% of all other stocks. However, this overall performance is mostly based on the strong move around 10 months ago.
- NTAP is part of the Technology Hardware, Storage & Peripherals industry. There are 37 other stocks in this industry, NTAP did better than 69% of them.
- NTAP is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so NTAP is lagging the market slightly.
- In the last month NTAP has a been trading in the 96.73 - 107.41 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
NTAP has a bad technical rating, but it does show a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 102.84, a Stop Loss order could be placed below this zone.
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NTAP Support and Resistance Analysis
93.17
4 important support areas can be observed.
- A support zone ranging from 100.59 to 102.84. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @98.22 from a horizontal line in the daily time frame.
- Support @96.35 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.
When analyzing the resistance we notice 5 important areas.
- A resistance zone ranging from 103.36 to 105.90. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A resistance zone ranging from 107.61 to 108.40. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Resistance @110.14 from a trend line in the daily time frame.
- Resistance @121.86 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 | DOWN | NEGATIVE | The long term trend for NTAP is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for NTAP is neutral. |
| ChartMill Relative Strength | 70.12 | POSITIVE | NTAP has a high relative strength, it outperformed 70.12% 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) | DOWN | NEGATIVE | The current price of NTAP is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 54.07 | NEUTRAL | The RSI value for NTAP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.14 | POSITIVE | The MACD value suggests NTAP has a positive trend. |
| Stochastics (14,3) | 49.15 | NEUTRAL | The Stochastics value for NTAP is a neutral value. |
| Average True Range in percent/ATR (20) | 3.03 | MEDIUM VOLATILITY | The ATR as a percentage value for NTAP suggests some volalility. |
| Average Directional Index/ADX (14) | 18.2 | NEGATIVE | The low ADX value for NTAP suggests a weak or negative trend. |
NTAP Chart- and CandleStick Pattern Analysis
NTAP Technicals: Chart, Performance Metrics, Trend & Indicators
103.35
+1.31 (+1.28%)
NETAPP INC / NTAP TA FAQ
What is the ChartMill technical rating of NETAPP INC (NTAP) stock?
ChartMill assigns a technical rating of 3 / 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 54.0673. 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 0.143101, indicating a bearish trend.
What are the support and resistance levels for NETAPP INC (NTAP) stock?
NETAPP INC (NTAP) has a support level at 102.84 and a resistance level at 103.36. Check the full technical report for our detailed analysis of NTAP support and resistance levels.