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NetApp(NTAP - Get Report) is a provider of storage and data management solutions. NetApp has a portfolio of application, virtualization, cloud, and service provider solutions. This stock is trading up 3.3% at $34.53 in recent trading.
Today's Volume: 5.9 million
Average Volume: 8.1 million
Volume % Change: 50%
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From a technical perspective, NTAP is moving to the upside here with decent volume. This move is quickly pushing NTAP within range of triggering a major breakout trade. That trade will trigger once NTAP clears some near-term overhead resistance levels at $34.19 and its 200-day moving average of $36.48 with high volume.
Traders should now look for long-biased trades once NTAP sustains a move or close above those levels with volume that's near or above 8,100,030 shares. At last check, NTAP has hit an intraday high of $34.54 and volume is about 2 million below its three-month average action of 8.1 million shares. Keep in mind you can buy NTAP off weakness and anticipate that breakout, as long as some near-term support at $32.93 to $32.50 holds. If that breakout triggers soon, then NTAP will have a great chance of re-testing or possibly taking out its next major overhead resistance levels at $38 to $41.05.
To see more stocks rising on unusual volume, check out the
Stocks Rising On Unusual Volume portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.