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Technology Stocks : Network Appliance

NTAP 106.38

-0.4%

3:59 PM EST

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To: Murrey Walker who wrote (8959)	8/15/2001 3:13:45 PM
From: Jacob Snyder	Read Replies (1) of 10934

NTAPs momentum is strongly down. That's the pattern since the 2000 highs, and there is no indication that pattern has changed: lower highs (latest rally failed at 16), lower lows (latest low below 10), failed on attempt to cross the 50D moving average (again). And the company just said "at a bottom, but not an upturn". So, the company is currently at breakeven, and management offers no visibility on when that situation changes. I suppose you could say the very-short-term chart (since the July bottom) shows an uptrend, but shorter-term patterns are less reliable than longer-term patterns.

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