Trade Alert - NetApp at New Highs

Published on Friday, 23 July 2010 11:36 Written by Christopher Lynn

New York, July 23rd (TradersHuddle.com) - Shares of NetApp, Inc. (NASDAQ:NTAP) booked a new 52 week high today by trading above $41.99, traders are definitely monitoring NetApp's price action to see if this move attracts further buying into the stock.

NetApp, Inc. (NASDAQ:NTAP) provides storage and data management solutions. The storage solutions include specialized hardware, software, and services that provide storage management for open network environments.

NetApp is currently trading 0.62% versus its previous trading session close, and it has calculated support and resistance at $36.66 and $41.41 respectively. Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range

The overall market index S&P 500 is trading lower by -0.05% from its previous trading close, which means that NetApp stock is outperforming the overall market.