After BLASTING through trend line resistance in November, Netapp is finally experiencing a healthy pullback today after its earnings report. Earnings and guidance both exceeded analyst expectations, but the stock is pulling back anyway. This is consistent with the overall trend this earnings season. Lots of stocks have pulled back after earnings beats.
Netapp is...
Netapp pulling back in a bull flag pattern after a 60% raise. Could have possibly completed its flag yesterday Monday and ready for its next leg higher.
Netapp Inc (NTAP)- MANUFACTURES INTEGRATED NETWORK STORAGE/DATA MANAGEMENT HARDWARE FOR CORPORATIONS/GOVT AGENCIES.
Possible Huge triangle ready for the breakout if it breaks support it looks like a nice short all the way to the downside if not a huge explosion of a impulsive move eithier way keep it on high watch!
This chart really really beautiful on the 4HR as longest it hold support i don't
see why this cant have another leg up, volume seems to be picking up as well, this is a no brainier if it breaks out but if not also looks like a nice short if it cant hold support!
$NTAP released its earning release with a positive under reaction with the PEAD projecting a bullish outlook for the stock placing it in Drift A
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NTAP just reported earnings and has run up and filled a previous gap in its chart. It may run to the top of the range to 61, then reverse. Typically after a gap fills, the is a strong trend reversal. Looking for this to go back to 57. If it does break above the range at 61.4, then i'll exit this trade because the setup will be void at that point.
NTAP FOR CALL TRADE
My overview for NTAP is start for Bullish Trend. In order to do that, Price need to break Orange Line
Yellow box are nice for Earning trade (Market Close) Today.
Best Regards
NTAP has ran up right into its 200 day moving average. It is also overextended on the bollnger bands. Looks like price is going to bounce back down to the $45.5 range for relief in price.
Netapp published earnings of 73 cents / share, up from 65 cents/share a year ago. Analysts had expected sales and profit to decline from last year, and so had suggested a 41 cents/share outlook. Stock up 10% in aftermarket.
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)
