NTAP TA:
stockcharts.com[h,a]dahlnymy[dd][pb50!b200!f][vc60]
Nice bounce, at the 200DMA. After breaking above that moving average in 12/01, we bounced there in 2/02, and again this month. Every time this happens, the pattern gets more reliable.
The next question is: are we in an uptrend, or a horizontal (16-27?) range? In the high 20s, valuations are really stretched, even if you use expected 2003 earnings and sales, and the rosiest scenario.
I'm fairly certain that 16 in a solid floor for this stock, given the 2 bounces there. I'm fairly uncertain where the ceiling is. For the moment, I'd say NTAP is a strong buy at 16, and a sell (in increments) at 25 and up. |
