NetApp (NTAP) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, NTAP crossed above the 200-day moving average, suggesting a long-term bullish trend.
The 200-day simple moving average is a useful tool for traders and analysts, establishing market trends for stocks, commodities, indexes, and other financial instruments over the long term. The marker moves higher or lower along with longer-term price moves, and serves as a support or resistance level.
NTAP has rallied 5.6% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests NTAP could be on the verge of another move higher.
The bullish case only gets stronger once investors take into account NTAP's positive earnings estimate revisions. There have been 2 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors may want to watch NTAP for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
NetApp, Inc. (NTAP) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。