NetApp Inc. stock trades under the ticker NTAP & has shown recent bullishness that traders & investors should take note of.
NTAP stock closed at $87.33/share on 2/7/2022, with additional bullish momentum to run.
NetApp Inc. NTAP Stock’s Technicals Broken Down
NTAP Stock Price: $87.33
10 Day Moving Average: $86.57
50 Day Moving Average: $89.56
200 Day Moving Average: $84.89
RSI: 45.51
MACD: -0.977
Yesterday, NTAP completed a bullish MACD crossover, despite dropping 0.34%.
Their RSI is just below neutral, which should provide them additional strength in the near-term given that they have traded at above average volumes since the beginning of 2022.
NTAP stock’s next tests of resistance will be at $88.46, $88.45 & $89.68.
NetApp Inc. NTAP Stock As A Long-Term Investment
Investors will find NTAP stock’s P/E (ttm) appealing, at 21.30.
Their P/B (mrq) is a bit rich at 25.76.
NetApp Inc.’s Quarterly Revenue Growth Y-o-Y is 10.6%, with 63.5% Quarterly Earnings growth Y-o-Y.
NTAP stock’s balance sheet looks appealing, with Total Cash (mrq) of $4.56B & Total Debt (mrq) of $2.91B.
They offer a 2.24% dividend yield, with a safe 47% payout ratio.
95.56% of NTAP stock’s outstanding share float is held by institutional investors.
NetApp Inc. NTAP Stock As A Short-Term Trade Using Options
NTAP stock has options that traders can trade to hedge against broader market volatility in the near-term.
I am looking at the contracts with the 2/18 expiration date.
The $86 & $87 call options look interesting, although very illiquid.
The $89 & $90 put options also look appealing, although also low in open interest.
NTAP stock has weekly expiration dates though, so open interest may increase as the expiration date draws nearer & other contracts expire.
Tying It All Together
All-in-all, NTAP stock is appealing for both long & short term focused market participants.
Long-term investors will like their balance sheet & dividend yield.
Short-term oriented traders will like their momentum, but will want to see more open interest & liquidity in their medium-term expiration dated contracts.
NTAP stock is worth taking a closer look at, regardless of your trading style.
*** I DO NOT OWN SHARES OF NTAP STOCK ***