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Next Resistance Level for NetApp (NTAP) is $34.75
[April 02, 2013]

Next Resistance Level for NetApp (NTAP) is $34.75

Apr 02, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of NetApp (NASDAQ:NTAP) opened today above their pivot of $34.05 and have already reached the first level of resistance at $34.41. Analysts will be watching for a cross of the next upside pivot targets of $34.75 and $35.45.

NetApp (NASDAQ:NTAP) has potential upside of 12.9% based on a current price of $34.68 and analysts' consensus price target of $39.17. The stock should find resistance at its 50-day moving average (MA) of $34.81, as well as support at its 200-day MA of $32.53.

Over the past year, NetApp has traded in a range of $26.26 to $46.80 and is now at $34.68, 32% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of NetApp on November 15th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.25. Since that recommendation, shares of NetApp have risen 12.6%. We continue to monitor NTAP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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