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Downtrend Broken Resist.Archive
- 9/6/2024 -
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NetApp, Inc. (NTAP) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the NetApp, Inc. (NTAP). During the week, the NTAP dropped -6.54 points, or -5.42%, and closed at 114.18 on Friday, September 6, 2024. Weekly volume was 12% above 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 135.01 on July 10, 2024. NTAP gained -114.35 points, or -553.48%, in 442 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (63.56) 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 135.01 on July 10, 2024. NTAP gained -64.19 points, or -90.64%, in 36 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend support line (118.32) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. NTAP may retest the broken support line. It is considered to be a resistance line now. 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 support 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 August 22, 2024 at 134.37 and reached 113.68 on September 6, 2024. NTAP lost 20.69 points, or 15.40%, in 15 days. Price is near the trend low.
 Daily Technical Indicators: [See NTAP daily technical indicators chart]
Daily Williams' Percentage Range is oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Williams' Percentage Range or strongly oversold daily Lane's Stochastic. 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is below its signal line since August 28, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.
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