While those are all strong signals, what caught my eye was that Net App has now crossed above a two month downtrend line. With current momentum, this stock could eclipse the early March highs. A positive earnings report might just be the catalyst to move this name to higher ground.
Net App (Nasdaq:NTAP) Video Chart Analysis
Take a deeper dive into the chart action on tech stock Net App Nasdaq:NTAP and learn how to read the technicals. Get Bob Lang’s full analysis as he marks up our chart of the week.
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About Net App
NetApp, Inc. provides software, systems, and services to manage and store computer data worldwide. It offers all-flash arrays that support data management across flash, disk, and cloud resources; hybrid arrays to deploy the speed of flash storage; Data ONTAP storage operating system that delivers integrated data protection, comprehensive data management, and built-in software for virtualized, shared infrastructures, cloud computing, and mixed workload business applications; and SANtricity operating system, which provides performance, reliability, and data protection for application-driven workloads. The company also provides SolidFire element operating system optimized for the storage requirements of a data center; NetApp StorageGRID software that allows organizations to store and manage massive amounts of data on premises and in the cloud; and AltaVault cloud-integrated storage solutions and services, which provide the ability to backup data to any cloud.