NTAP : Bullish FlagMultiple crossovers for NASDAQ:NTAP at the top of this bullish wave.
Looks like we are watching a bull-flag with an easy pullback.
N1TA34 trade ideas
NetApp Inc. | Chart & Forecast SummaryKey Indicators on Trade Set Up in General
1. Push Set Up
2. Range Set up
3. Break & Retest Set Up
Active Sessions on Relevant Range & Elemented Probabilities;
* Asian(Ranging) - London(Upwards) - NYC(Downwards)
* Weekend Crypto Session
# Trend | Time Frame Conductive | Weekly Time Frame
- General Trend
- Measurement on Session
* Support & Resistance
* Trade Area | Focus & Motion Ahead
# Position & Risk Reward | Daily Time Frame
- Measurement on Session
* Retracement | 0.5 & 0.618
* Extension | 0.786 & 1
Conclusion | Trade Plan Execution & Risk Management on Demand;
Overall Consensus | Neutral
minor retrace to 120sWith the continued momentum here and current conditions, this could easily pop back up but showing signs of slow down.
Nice entry point for buy this stockRetest ABC area ( Corrective Wave) for this UPtrend , time for buying more
When P/E is undervalued and all indicators undersoldP/e 4 times under stock price, technicals ready for reversal, candle end of week shows conviction to a new high. The EMA looks like it is about to curve under otherwise bullish.
NTAP - longShowed huge volume on Friday (as 8EMA bounce).
Let's see if stock is ready to explode today.
NetApp Stock Jumps Over 24% After Solid Quarterly Earnings NetApp's ( NASDAQ:NTAP ) shares surged over 24% in premarket trading on Friday, following the announcement of its quarterly earnings report that exceeded analysts' expectations. The cloud storage firm raised its full-year fiscal 2024 outlook and stated that it foresees continued strength in its all-flash products and marketplace services. NetApp's ( NASDAQ:NTAP ) Hybrid Cloud segment witnessed a 6% increase in revenue from the previous year, primarily driven by the company's recently introduced all-flash products, which accounted for 60% of the unit's sales during the quarter. The company's cloud storage solutions also saw good momentum in artificial intelligence (AI) during the quarter, with "several large Nvidia ( NASDAQ:NVDA ) SuperPOD and BasePOD deployments." NetApp CEO George Kurian said, "Our modern approach to unified data storage, spanning all-flash and cloud environments, is clearly resonating with customers."
Looking ahead, NetApp ( NASDAQ:NTAP ) lifted its full-year fiscal 2024 adjusted earnings guidance to between $6.40 and $6.50 per share, up from its prior forecast of $6.05 to $6.25 a share, and raised its revenue outlook for the period to between $6.185 billion and $6.335 billion. Additionally, the company reiterated its outlook for the fiscal fourth quarter, projecting adjusted earnings of between $1.73 and $1.83 per share and revenue of $1.585 billion to $1.735 billion. NetApp's CFO, Mike Berry, said, "We expect to see continued strength in all-flash products and hyperscaler first party and marketplace services" in the coming quarters.
After making several legs higher, NetApp's ( NASDAQ:NTAP ) share price has coiled within a pennant since early December. This chart pattern typically indicates a continuation of the prevailing trend. Upon an earnings-driven breakout above the pennant, look for a potential measured move up to around $110.
NetApp's shares were up 17.3% at $104.50 about 90 minutes before Friday's opening bell.
NTAP | Informative before the ERNASDAQ:NTAP
Based on my observations, the stock has been consolidating within the orange box since the last earnings report up to now. In the coming days, it could move either up or down within this defined range. Personally, I expect a bullish price movement towards the $92 area, potentially forming a double top before the earnings announcement. Moreover, according to Elliott Wave Theory, it's likely that after the earnings, the price could drop back to the previous key level at $75. The chart suggests that the stock could move in either direction. If I were in a position, I'd prefer to be in cash. However, if it breaches the $92 mark, it could swiftly move to an all-time high (ATH). Therefore, the upcoming earnings announcement will be crucial in determining the direction.
$NTAP #SHORTSTROKE strategy Practising Shortstroke strategy by Bill O'Neill - Surge in price and monitor 3 weeks of action which ends at top of surge showing fund managers knowing the value of the stock..
5 Types Of Gaps In Stock TradingIn stock trading, gaps refer to the difference between the closing price of a security on one trading day and its opening price on the next trading day. These gaps can provide valuable
information about market sentiment and potential future price movements. Here are five types of gaps in stock trading:
1. Common Gap (Normal Gap):
- A common gap occurs when the price of a security opens higher or lower than the previous day's closing price.
- It is a typical gap that often occurs during regular market fluctuations and is not necessarily significant in terms of predicting future price movements.
2. Breakaway Gap:
- A breakaway gap usually occurs after a period of consolidation or trading within a range.
- It signifies a strong shift in market sentiment and can signal the beginning of a new trend.
- In an uptrend, a breakaway gap occurs when the price gaps upward, while in a downtrend, it occurs when the price gaps downward.
3. Exhaustion Gap:
- An exhaustion gap appears near the end of a strong price movement, indicating that the trend may be losing momentum.
- In an uptrend, an exhaustion gap occurs when the price gaps upward, and in a downtrend, it occurs when the price gaps downward.
- Traders often interpret exhaustion gaps as a potential reversal signal, suggesting that the existing trend may be nearing its end.
4. Common Gap (Continuation Gap):
- Similar to the common gap mentioned earlier, a continuation gap occurs within the context of an existing trend.
- It reaffirms the strength of the current trend and often leads to the continuation of the ongoing price movement.
- In an uptrend, a continuation gap occurs when the price gaps upward, while in a downtrend, it occurs when the price gaps downward.
5. Island Reversal Gap:
- An island reversal gap is formed when there is a gap on both sides of a price island, isolating the price movement from the rest of the trend.
- It often indicates a potential reversal in the existing trend.
- In an uptrend, an island reversal gap occurs when the price creates a gap up, then forms a
consolidation (island) and finally gaps down. The reverse is true for a downtrend.
It's important to note that while gap analysis can be a useful tool in technical analysis, it should be used in conjunction with other indicators and analysis methods for more comprehensive
decision-making in stock trading. Additionally, the interpretation of gaps may vary, and traders should consider the overall market context and other relevant factors.
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Disclaimer:
The information provided is intended for educational purposes and should not be construed as
investment advice. It is essential to consult with a qualified financial advisor or conduct your research before making any investment decisions.
NTAP | Informative | ER DayNASDAQ:NTAP
Technical Analysis for NTAP:
If NTAP breaks above the bullish line of 69.75$, it may indicate a bullish signal, suggesting potential upward price movement. In this scenario, the first target price (TP1) could be set at 71.69$, while the second target price (TP2) could be set at 74.32$.
Conversely, if NTAP breaks below the bearish line of 67.61$, it may suggest a bearish signal, implying potential downward price movement. In this case, the first target price (TP1) could be set at 64.20$, and the second target price (TP2) could be set at 61.04$.
Fundamental Analysis for NTAP:
NTAP is a leading provider of data storage and management solutions, catering to enterprise customers globally. The company's expertise in storage systems, software, and cloud services positions it as a key player in the industry. NTAP benefits from a strong customer base, long-standing relationships with enterprise clients, and a diversified product portfolio.
NTAP's financial performance has been consistently robust, with steady revenue growth and solid profit margins. The company's ability to adapt to evolving technology trends, such as cloud computing and data analytics, has been instrumental in sustaining its competitive advantage. NTAP's focus on innovation and strategic partnerships has allowed it to address the increasing demand for scalable and efficient data storage solutions.
It is essential to consider potential risks, including intense competition from both established players and emerging startups in the storage industry. Moreover, changes in technology and customer preferences could impact NTAP's market position. However, the company's strong financials, market expertise, and commitment to innovation position it favorably for long-term growth.
On a RollW pattern that could reverse at the final leg.
If u r long then watch sell signals closely.
no recommendation/but be safe/no rising wedges notable
NetApp WCA - Symmetrical Triangle Company: NetApp Inc.
Ticker: NTAP
Exchange: NASDAQ
Sector: Technology
Introduction:
Welcome to today's technical analysis. Our focus is on NetApp Inc. (NTAP), a major player in the Technology sector, listed on the NASDAQ. The weekly chart is currently exhibiting a Symmetrical Triangle pattern, suggesting a possible bottom reversal.
Symmetrical Triangle Pattern:
A Symmetrical Triangle pattern, typically seen during periods of consolidation, can signal a potential reversal or continuation of the current trend. It's characterized by a series of lower highs and higher lows, implying that the market is indecisive.
Analysis:
Previously, NetApp was in a clear downward trend. However, we've noticed a symmetrical triangle pattern in the consolidation phase, which seems to act as a bottom reversal. This triangle has three touch points on both the lower and upper diagonal boundaries.
In a bullish turn of events, the price has broken above the 200 EMA with a weekly candle, which reinforces the significance of the breakout. Consequently, this setup might present an immediate long entry opportunity.
The price target, should the breakout hold, is set at $90, indicating a potential upside of approximately 34% from the level of the breakout.
Conclusion:
NetApp's weekly chart reveals an intriguing setup in the form of a symmetrical triangle breakout, suggesting a potential bottom reversal. This setup could present a profitable long trading opportunity.
As always, this analysis should be used as a part of your overall market research and risk management strategy, and not as direct trading advice.
If you found this analysis valuable, please consider liking, sharing, and following for more updates. Wishing you profitable trading!
Best regards,
Karim Subhieh
$NTAP with a Neutral outlook following its earnings #Stocks The PEAD projected a Neutral outlook for $NTAP after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 92.31%.
$NTAP with a Neutral outlook following its earnings #Stocks The PEAD projected a Neutral outlook for $NTAP after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 91.67%.
NTAP - Strong Fib BreakoutBreak out of the Fibonacci Circle of the dominant upward trend
The green dotted line can be seen to be hodling
While price has climbed out of the previous 1.618 resistance and into a new fib arch
$NTAP Possible Pullback Buy Setup$NTAP never setup to my liking before it broke out so I've stayed away. It never took off after BO and now spending 3 days on top of its previous supply line.
Best case scenario? this stays inside Tuesday and setups up a low risk pullback (orange bars).
Moving it to secondary WL
NTAP has begun the algorithmic projected declineBased on historical movement, the peak could occur anywhere in the larger red box. The final targets are in the green boxes. The pending bottom should occur within the larger green box as has been the historical case. Half of all movement has ended in the smaller green box. In this instance, the signal indicated SELL on September 1, 2021 with a closing price of 89.32.
If this instance is successful, that means the stock should decline to at least 87.96 which is the top of the larger green box. Three-quarters of all successful signals have the stock decline 5.667% from the signal closing price. This percentage is the top of the smaller green box. Half of all successful signals have the stock decline 11.224% which is the end point of the black dotted arrow. One-quarter of all successful signals have the stock decline 14.18% from the signal closing price which is the bottom of the smaller green box. The maximum decline on record would see a move to the bottom of the larger green box. These are the same concepts for the levels in the red boxes as well.
The ends/vertical sides of the boxes are determined in a similar fashion. The trough of the decline can occur as soon as the next trading bar after signal close, while the max decline occurs within the limit of study at 35 trading bars after the signal. A 1% decline must occur over the next 35 trading bars in order to be considered a success. Three-quarters of successful movement occur after at least 7 trading bars; half occur within 19 trading bars, and one-quarter require at least 31 trading bars.
The black dotted arrow represents median historical movement. Medians are a good metric, but they are just one of many I use when forecasting future movement.
Currently the stock moved up two bars after signal which is the median reversal point. The stock could be on the decline toward the smaller green box already.
NTAPNetApp (NASDAQ:NTAP) broke above resistance in Friday's trading session after a small period of consolidation. I still like this stock and will be watching it again on Monday, expecting to see a continuation move.
NTAP - Engulfing with Insidebar at three daysNTAP - Engulfing with Insidebar at three days on resistance zone
