NETWORK APPLIANCE INC
(NTAP-Nasdaq):
Technical Viewpoint: From a low
of $40 3/4 on Mar 12, 1999 prices
rallied, reaching a
high of $56 1/4
on Mar 19, 1999. A
decline saw prices pull back, reaching a
low of
$47.94 on Mar 23, 1999.
Another rally saw prices penetrate
resistance, closing 4/2/99
at $56 1/2. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Mar 18, 1999 when the Histogram crossed the "0" line to the upside.
Support: Remains at $51.00. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Mar 24, 1999. A P&F upside
reversal takes place at $54.00. Summary: Technical indicators have turned bullish. BUY! NETWORK APPLIANCE INC
(NTAP-Nasdaq) @ $57 1/8 Stop: Use a protective stop of $54 3/8.
NETWORK APPLIANCE INC is currently trading @ $56 1/2 plus $5 7/8 on Apr 1, 1999. Price Objective:
$75.00. Risk/Reward: $2 3/4 VS. $17 7/8. Today's Risk Reward Ratio: 6:1
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