NetApp, Inc. (NTAP)
All successful traders recommend adhering to a trading strategy and not make decisions based on subjective opinions, rumors or feelings. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best
Currently, NetApp stock doesn't match any of these trading strategies, so our recommendation is not to buy now. This doesn't mean $NTAP will slide in coming sessions, or it will not rise higher. Simply, it doesn't match our recommended trading systems
"To sell or not to sell", if you are holding NetApp shares?. Trading strategies prevent us from making impulsive decisions based on our sentiments or the buzz surrounding the market. Our trading system selects very simple strategies to guide us on when is a good time to sell our shares. Be aware that these strategies should not be used for shorting $NTAP stock
A golden rule is that you must never hold an investment that generates losses greater than those expected at the time of purchase. The timing to sell your stock should always be determined by the stop-loss (automatic or manual)
In the current situation of NetApp there is not any eligible sell setup, so NetApp stock holders with operations in profit can keep their positions
Brokerage firms and financial institutions post stock ratings based on their views of the market and the fundamental and technical situation of the analyzed stock. Unfortunately, the accuracy of these predictions is not very high, and certainly not a direct buy or sell signal
In the last month, 2 brokerage ratings were published for NetApp
|Oct 13th, 2020|
|Oct 23rd, 2020|
|Summit Insights||Neutral → Strong buy|
NetApp stock started an uptrend last March, and grew a gorgeous 39.97%. The price action shows higher peaks and higher troughs, and along the way gave some buy points for those who wanted to enter. Latest pullback was in late September, when price bounced at $40.02. Currently, it swings in a consolidation between its last top ($48.94) and its last bottom ($40.02)
Moving averages are simple indicators for investors to gauge direction. A moving average is calculated as the simple mean of the previous N periods (usually sessions). Usual time periods used for moving averages are 21 days, 50 days, 100 days and 200 days
Market investors use support and resistance levels to find price points in the stock price action that may behave as barriers, preventing the price of shares to move up or down. A support level is a level where the price tends to stop as it falls. Price is more likely to "bounce off" this level rather than break through it. Nevertheless, if the price breaks down this level, it will probably continue falling until meeting another support level. On the contrary, resistance levels are where the price may find a curb as it rises. In the same way, the price is more liable to "rebound" at this level, and if it finally breaches this level, the price will climb easily until it hits the next resistance
The current resistance levels are:
The current supports are:
The so-called Bollinger bands are a popular studio designed by John Bollinger. By essence, the Bollinger Bands are bands that move around a moving averagediffering in distance from the bottom to the top depending on market volatility. They are usually drawn by an offset of two standard deviations, above and below, from a moving average line. Bollinger himself recommends the moving average period to be 20
Since the price surpassed the upper band on October 13, the price has corrected downwards by 1.86%
The RSI (Relative Strength Index) is an oscillator-type indicator that gauges price changes to identify when the price of a share or financial asset is oversold or overbought. Oscillator indicators, such as relative strength, are intended to indicate values in the range of 0-100. J. Welles Wilder introduced the relative strength indicator in the late 1970s and since then it has been widely used by stock traders
The Relative Strength Indicator (RSI) has been between the levels of 70 and 30 for some weeks, and therefore, without this indicator really being of any help to us in making any decisions.
In late August, NetApp, Inc. ($NTAP) reported EPS for fiscal 1st-quarter that highly surpassed Market expectations. Quarterly EPS was $0.73 per share from an estimated $0.41. This Q1 report represents an earnings surprise of 78.05%.In comparison, the EPS for the same quarter last year was $0.65, so posted EPS means a improvement of 12.31%.
NetApp ($NTAP) is hosting the quarterly earnings call on mid next November. Expected earnings per-share for this quarter is $0.73, compared to $0.73 that was reported for Q1.