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Archive
- 12/13/2024 -
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NetApp, Inc. (NTAP) Technical Analysis
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| Summary:
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| | It was the negative week for the NetApp, Inc. (NTAP). During the week, the NTAP dropped -9.11 points, or -6.95%, and closed at 122.00 on Friday, December 13, 2024. It was the worst weekly loss since August 30, 2024. Weekly volume was -26% below average.
 Long-term trend: [See NTAP long-term trend chart]
A long-term uptrend had started on January 20, 2016 at 20.66 and reached 135.40 on November 22, 2024. NTAP gained -114.74 points, or -555.37%, in 461 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (64.99) 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 31, 2024 at 115.20 and reached 135.40 on November 22, 2024. NTAP gained -20.20 points, or -17.53%, in 3 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 117.90 and resistance is at 149.96. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See NTAP weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since August 2, 2024. 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 November 22, 2024 at 135.40 and reached 121.30 on December 11, 2024. NTAP lost 14.10 points, or 10.41%, in 19 days. Price is near the trend low.
Daily Technical Indicators: [See NTAP daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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.
During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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