When the Price of Netapp NTAP Talks, People Listen

January 25, 2023, 09:00 amET, BY Simon M.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for NTAP

• Buy NTAP slightly over 63.92 target 71.12 stop loss @ 63.74 Details

The technical summary data tells us to buy NTAP near 63.92 with an upside target of 71.12. This data also tells us to set a stop loss @ 63.74 to protect against excessive loss in case the stock begins to move against the trade. 63.92 is the first level of support below 66.01 , and by rule, any test of support is a buy signal. In this case, support 63.92 is being tested, a buy signal would exist.

• Short NTAP slightly under 71.12, target 63.92, stop loss @ 71.33 Details

The technical summary data is suggesting a short of NTAP as it gets near 71.12 with a downside target of 63.92. We should have a stop loss in place at 71.33though. 71.12 is the first level of resistance above 66.01, and by rule, any test of resistance is a short signal. In this case, if resistance 71.12 is being tested, a short signal would exist.

Swing Trading Plans for NTAP

• Buy NTAP slightly over 67.51, target 71.12, Stop Loss @ 67.32 Details

If 67.51 begins to break higher, the technical summary data tells us to buy NTAP just slightly over 67.51, with an upside target of 71.12. The data also tells us to set a stop loss @ 67.32 in case the stock turns against the trade. 67.51 is the first level of resistance above 66.01, and by rule, any break above resistance is a buy signal. In this case, 67.51, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short NTAP slightly near 67.51, target 65.74, Stop Loss @ 67.7. Details

The technical summary data is suggesting a short of NTAP if it tests 67.51 with a downside target of 65.74. We should have a stop loss in place at 67.7 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 67.51, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for NTAP

• Buy NTAP slightly over 67.12, target 67.51, Stop Loss @ 66.96 Details

If 67.12 begins to break higher, the technical summary data tells us to buy NTAP just slightly over 67.12, with an upside target of 67.51. The data also tells us to set a stop loss @ 66.96 in case the stock turns against the trade. 67.12 is the first level of resistance above 66.01, and by rule, any break above resistance is a buy signal. In this case, 67.12, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short NTAP slightly near 67.12, target 65.74, Stop Loss @ 67.28. Details

The technical summary data is suggesting a short of NTAP if it tests 67.12 with a downside target of 65.74. We should have a stop loss in place at 67.28 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 67.12, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

NTAP Ratings for January 25:

Term →	Near	Mid	Long
Rating	Weak	Strong	Weak
P1	0	0	56.76
P2	65.45	65.74	63.92
P3	67.12	67.51	71.12

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Chart of NTAP with Longer Term Pivots

This is not EF Hutton, but it could be more #powerful.  A picture speaks a thousand words, they say, and the #priceaction of Netapp (NASDAQ: NTAP) tells an important story.  The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity.  The data below for NTAP can be used as an example, and demonstrate how to do this for other stocks too.  This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.