The Greedy Trader Weekly Analysis
Sign In Mar 22, 2024
Skip Navigation Links
TA Search
Daily RSI Divergence:Bearish
Number of records: 4
Share
Symbol:  

• Symbol Lookup
• View Technical Chart
• Add to Watch List
• Candlestick Patterns
• Stock Technical Indicators
• Stock Trends Analysis
• Market Sector Rank
• Stock Trading Signals

Relative Strength Index (RSI Indicator)

The Relative Strength Index is a popular momentum oscillator, developed by Welles Wilder, Jr. It is one of the most widely used technical indicators. Relative Strength Index compares upward vs. downward movements in closing over a selected period. The RSI Indicator fluctuates from 0% to 100%. A stock with RSI Indicator higher than 70% is considered overbought and lower than 30% - oversold. A good rule is to adjust overbought/oversold index range to 80% in bull and to 20% in bear markets. Relative Strength Index can provide an early warning, but not the final signal. It should be used in conjunction with other stock picking techniques. The divergence between RSI Indicator and underlying stock price is the most important signal provided by RSI, and it can be an indication of an impending reversal. Using the RSI divergence (bullish and bearish), chart patterns, trendlines, support, and resistance lines along with the RSI Indicator chart can be very useful.

Advanced TA Search

Archive
- 3/15/2024 -
Sign In to see current Signals.

NetApp, Inc. (NTAP) Technical Analysis

Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :Overbought sectorMACD bearish divergenceBroken trend resistance lineBroken trend resistance line
Daily :The period of high volatility of the stock price
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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 77.27
Williams' Percentage Range (W%R) 39.20
Lane's Stochastic (%D-Slow) 34.21
Greed/Fear Indicator (GFI) 57.44
Moving Average Converg./Diverg. (MACD) 3.72
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 67.42
Williams' Percentage Range (W%R) 27.00
Lane's Stochastic (%D-Slow) 58.78
Greed/Fear Indicator (GFI) 63.97
Moving Average Converg./Diverg. (MACD) 4.07 Bearish
Trading Signals
Description Value Chart
Upper Bollinger Band 114.26
Parabolic System 112.59
Daily Stochastic Crossing 102.51
Price 102.35
Weekly Stochastic Crossing 100.11
20 Day Moving Average 95.88
Quarterly Trendline Resistance 95.77
Monthly Trendline Support 93.98
50 Day Moving Average 90.86
Monthly Trendline Resistance 88.09
Quarterly Trendline Support 83.04
Lower Bollinger Band 80.99
Sector and Industry
Description Name Rank
Sector Information Technology 8
Industry Technology Hardware, Storage & Peripherals 31
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 112.48
High Date 03/01/2024
Low 101.07
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 83.62
Low Date 01/08/2024
High 112.48
High Date 03/01/2024
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 88.09
Support 93.98
Low 70.82
Low Date 10/30/2023
High 112.48
High Date 03/01/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 95.77
Support 83.04
Low 58.08
Low Date 12/28/2022
High 112.48
High Date 03/01/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 96.61
High Date 01/12/2022
Low 58.08
Low Date 12/28/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.