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Trading Idea - NetApp Breaking Out?

Published on Monday, 06 February 2012 09:40 Written by TradersHuddle Staff

New York, February 6th (TradersHuddle.com) - Shares of NetApp, Inc. (NASDAQ:NTAP) closed the trading session at $40.35 just above calculated resistance at $39.73 moving to what appears to be a new range, as this move will clearly raise the attention of momentum buyers.

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's stock was trading in a well defined range with support at $36.20 and resistance at $39.73, given that this range was broken traders will be closely monitoring the stock

NetApp, Tiffany: S&P 500 Laggards - TheStreet.com
NetApp: S&P Intraday Laggard - TheStreet.com
NetApp's Robust Quarter Bugged by Guidance Glitch - Benzinga
UPDATE: Stifel Nicolaus Cuts PT to $42 on NetApp on Weak Guidance - Benzinga
UPDATE: FBN Securities Upgrades NetApp to Outperform on Attractive Valuation - Benzinga
UPDATE: Deutsche Bank Reduces PT to $40 on NetApp Post Quarterly Results. - Benzinga
UPDATE: Credit Suisse Cuts PT to $30 on NetApp on Lower Outlook - Benzinga
UPDATE: Piper Jaffray Lowers NetApp's PT - Benzinga
Benzinga's Top Downgrades With Color for May 24, 2012 - Benzinga
NetApp Down 14% Pre-Market on Weak Q1 Guidance - Benzinga

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