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Advanced TA SearchArchive - 3/15/2024 - Sign In to see current Signals. |
NetApp, Inc. (NTAP) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was the negative week for the NetApp, Inc. (NTAP). During the week, the NTAP gave back -0.91 points, or -0.88%, and closed at 102.35 on Friday, March 15, 2024. Weekly volume was 36% above 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 Rising Channel chart pattern. The uptrend resistance line (83.04) 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 chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (93.98) 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 medium-term trend. Weekly Technical Indicators: [See NTAP weekly technical indicators chart] Weekly technical indicators are neutral. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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. 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 relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help. Short-term trend: [See NTAP short-term trend chart] A short-term downtrend had started on March 1, 2024 at 112.48 and reached 101.07 on March 15, 2024. NTAP lost 11.41 points, or 10.14%, in 14 days. The price is now at the 11.22% retracement level. Daily Technical Indicators: [See NTAP daily technical indicators chart] Daily technical indicators are neutral. The daily MACD line is above its signal line since February 28, 2024. The distance between MACD and the signal line is low and getting smaller. The distance between the Bollinger Bands is 222.42% higher then one year average. It indicates the period of high 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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