Above Resistance - NetApp

Published on Thursday, 23 February 2012 07:44 Written by TradersHuddle Wire

New York, February 23rd (TradersHuddle.com) - Shares of NetApp, Inc. (NASDAQ:NTAP) closed the trading session at $42.63 just above calculated resistance at $41.28 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 $38.30 and resistance at $41.28, given that this range was broken traders will be closely monitoring the stock