Nov. 14 at 11:55 PM
$NTAP is currently trading at
$109.44, with an RSI of 32.44, indicating it is in oversold territory. The price is below both the 30-day MA of 116.27 and the 50-day MA of 118.69, suggesting a bearish trend. The recent high of
$126.66 and low of
$107.35 indicates a tight range, with the price nearing the lower boundary.
Given the oversold RSI, there may be a potential for a short-term rebound. Suggested entry is at
$110.00, just above the current price, to capture a potential bounce. Set a stop loss at
$106.50 to limit downside risk.
Targets are set at
$113.00 (near the 30-day MA) and
$115.00 (a psychological resistance level). This trade plan takes advantage of the current market context while managing risk effectively.
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