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Downtrend ResistanceArchive - 4/26/2024 - 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 a first positive week for the NetApp, Inc. (NTAP). During the week, the NTAP gained 3.38 points, or 3.45%, and closed at 101.33 on Friday, April 26, 2024. Weekly volume was -11% below average. 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 (78.33) 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 Rising Channel chart pattern. The uptrend support line (107.82) is broken. A broken support is considered to be a long-term bearish signal. 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 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 low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 97.31 on April 22, 2024. NTAP lost 15.17 points, or 13.49%, in 52 days. The price is now at the 26.50% retracement level. Daily Technical Indicators: [See NTAP daily technical indicators chart] Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish 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. Use the following link to access Lane's Stochastic help. The daily MACD line is below its signal line since March 21, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak. 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. The price is close to 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.
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