Recent falling wedge pattern has broken-out on good volume. Watching this stock which may rally up to $47.
Stop loss can be placed few cents below 20EMA(@ $43.50)
Previous trade worked out well with the channel holding as resistance.
Possibly this could be the report to finally break the status quo, $64 is the critical level to watch.
Possible entry level $60.00
target price $66.50
Stop loss $57.32
So this is my first idea and I know it looks like shit but like I said its my first time and I just wanted to get the idea out to the community as fast as possible because earnings are right around the corner. I will be buying calls on this one because I believe it has the potential to go back to the highs from 2000 which was around 120 dollars. So the measured...
NTAP has now retested its old support level which it broke down from, which is now a resistance at $57-58. This can cause a bounce back to the $54 level. With earnings coming up i'm hoping this will be a quick trade before earnings are announced.
$NTAP $61.81 - 30min 5ema & 14ma cross the 30 - dragonfly doji at weekly support just under 30dma -
- ex dividend date 1/02/20 -
1/03/20 $62 calls as .25 avg now
NTAP has now tested the $63.5 resistance line 7times. It is trending up and looking to break this resistance and fill the gap previously made in its chart up to the $66 level.
Entry level above the 200MA @ $60.40 approx.
Target price to channel @ $66.00 approx.
Stop loss @ $58.00.
Very risky trade into earnings given the past history for the stock , the decline we seen Arista Networks post earnings could very well be repeated here.
For a safer entry into the stock wait for a bullish move out of the channel.
Short interest 6.32%
P/E...
On October 14, options traders bought a bunch of November puts on Netapp, apparently betting that the stock would get rejected from the trend line it was testing and fall further toward the high-volume support node around 40.50. Instead, Netapp successfully made two bullish trend line crosses. There's quite a bit of upside potential here. It should at least test...
