If Shares of NetApp (NTAP) Break This Level, Expect a Strong Move Lower

As the market continues to selloff this morning, traders should take a look at NetApp (NTAP).  The stock is nearing a support level and if it’s broken, a strong move lower may occur…

NetApp Inc (NTAP) is a leading provider of enterprise data management and storage solutions. The company transitioned from a data center storage firm to providing software data management solutions for multi-cloud environments. It is poised to benefit from an increased adoption of cloud-integrated all-flash solutions and hybrid multi-cloud offerings.

Take a look at the 1-year chart of NTAP below with added notations…

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