Technical Analysis of Financial Markets

Saturday, December 20, 2008

NetApp, Inc. (NTAP) - Inverse Head & Shoulders ?


Founded in 1992 and headquartered in California, NetApp engages in the design and manufacture of storage and data management solutions for storing, managing, protecting and archiving of business data. Price action is consolidating into a possible inverse bullish Head & Shoulders formation with $14.50 serving as Neckline resistance. An entrance into a long position at the 50-day MA may serve as a low-risk trade with a stop on close below $12.