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Archive
- 4/5/2024 -
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NetApp, Inc. (NTAP) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a third consecutive positive week for the NetApp, Inc. (NTAP). During the week, the NTAP climbed 0.08 points, or 0.08%, and closed at 105.05 on Friday, April 5, 2024. Weekly volume was -22% below average.
NTAP is a member of Information Technology Sector. Information Technology is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See NTAP long-term trend chart]
A long-term uptrend had started on December 28, 2022 at 58.08 and reached 112.48 on March 1, 2024. NTAP gained -54.40 points, or -93.66%, in 61 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (77.38) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See NTAP medium-term trend chart]
A medium-term uptrend had started on October 30, 2023 at 70.82 and reached 112.48 on March 1, 2024. NTAP gained -41.66 points, or -58.83%, in 17 weeks. The price is now at the 17.83% retracement level.
 Weekly Technical Indicators: [See NTAP weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.
The weekly MACD line is above its signal line since February 23, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
Short-term trend: [See NTAP short-term trend chart]
A short-term uptrend had started on March 19, 2024 at 100.66 and reached 108.82 on April 4, 2024. NTAP gained -8.16 points, or -8.11%, in 16 days. The price is now at the 46.20% retracement level.
 Daily Technical Indicators: [See NTAP daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Use the following link to access Lane's Stochastic help.
The daily MACD line is below its signal line since March 21, 2024. The distance between MACD and the signal line is low, but getting bigger.
The distance between the Bollinger Bands is falling, and it was 4.76% on Friday. It is 55.32% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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