Trade Ideas Newsletter 08/29/2016

NTAP is showing significant strength right now

Based on the analysis above in NTAP, traders should determine that their portfolio can handle the additional risk from a new position. Also be sure that NTAP is not significantly correlated with your existing positions. Lastly, experienced traders never ignore how a new addition relates both to the overall market conditions as well as their existing account. For example, check the S&P 500. Is it trending or stationary recently? Has it moved up or down though key levels? Be sure to matvh up your trading actions on NTAP with the overall market so you are fighting the crowd.

CHART

Currently the important sentiment levels, evaluated by Traders For Wealth, have shown an increasingly positive bias toward NTAP. Also, the price action in NTAP has been moving up a lot. This is a strong sign for a potential upside breakout. Traders should view this as a bullish trade and make sure it aligns with the overall market mood, and their current positions.

Netapp Inc (NTAP)

NetApp, Inc. (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models. Its data management and storage offerings help manage business productivity, performance and profitability, while providing investment protection and asset utilization. The Company’s FlexPod portfolio includes FlexPod Datacenter for core enterprise data centers and service providers, FlexPod Express for medium-sized businesses and branch offices, and FlexPod Select for data-intensive workloads. The portfolio is validated with hypervisors, operating systems, systems management tools and cloud management platforms.