NTAP TA:
We are now far enough below the April low, that the current lows cannot be considered a double bottom with those earlier lows. The trend is, still, down, and the bottoming formation has not yet begun. So,
9.53 = 2/99 low
9.84 = 6/99 low
Those levels are the next support. Below that, there is no support. In 10/98, the low was 4.00.
Interestingly, NTAP seems to be showing strength, relative to EMC, since the April lows. This would be a change of the pattern that held since the alltime highs. NTAP looks like its closing strong, up for the day, while EMC slides to new lows. |
