Influential #investors can create defining moments in a stock's price, by simply making large #buyandsell decisions, and Netapp (NASDAQ: NTAP) is no exception. Pivot points in a chart pattern are often created by these events, and as we have learned this does not require institutional investment decisions. For NTAP like every other stock, smaller investors can be heard as well, but one thing is the same. No matter what class of influential investor is speaking, we can hear what they are saying with their pocketbooks by looking at price action; that is exactly what we have done below. This changes over time, so we suggest updating the data for the most actionable results, but this static example also demonstrates how this is done. For an update, please request Unlimited Real Time Reports .
Technical Summary
Term ? | Near | Mid | Long |
---|---|---|---|
Bias | Weak | Neutral | Strong |
P1 | 0 | 0 | 66.27 |
P2 | 77.53 | 75.97 | 73.09 |
P3 | 79.83 | 79.24 | 80.15 |
Longer Term Trading Plans for NTAP
May 11, 2021, 4:30 pm ET
Our Longer Term Plans for NTAP help you determine where to buy, sell, short, and set risk controls. Use this in conjunction with our Longer Term Market Analysis to go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis and see how it helps you work with this NTAP Report.
NTAP - (Long) Support Plan
The technical summary data tells us to buy NTAP near 73.09 with an upside target of 80.15. This data also tells us to set a stop loss @ 72.88 to protect against excessive loss in case the stock begins to move against the trade. 73.09 is the first level of support below 76.74 , and by rule, any test of support is a buy signal. In this case, support 73.09 is being tested, a buy signal would exist.
NTAP - (Short) Resistance Plan
The technical summary data is suggesting a short of NTAP as it gets near 80.15 with a downside target of 73.09. We should have a stop loss in place at 80.38though. 80.15 is the first level of resistance above 76.74, and by rule, any test of resistance is a short signal. In this case, if resistance 80.15 is being tested, a short signal would exist.