NetApp (NTAP) Offering Possible 7.18% Return Over the Next 27 Calendar Days

NetApp's most recent trend suggests a bearish bias. One trading opportunity on NetApp is a Bear Call Spread using a strike $45.00 short call and a strike $55.00 long call offers a potential 7.18% return on risk over the next 27 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $45.00 by expiration. The full premium credit of $0.67 would be kept by the premium seller. The risk of $9.33 would be incurred if the stock rose above the $55.00 long call strike price.

The 5-day moving average is moving down which suggests that the short-term momentum for NetApp is bearish and the probability of a decline in share price is higher if the stock starts trending.

The 20-day moving average is moving down which suggests that the medium-term momentum for NetApp is bearish.

The RSI indicator is at 33.82 level which suggests that the stock is neither overbought nor oversold at this time.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here

LATEST NEWS for NetApp

Analysts Estimate NetApp (NTAP) to Report a Decline in Earnings: What to Look Out for
Wed, 19 Aug 2020 16:30:04 +0000
NetApp (NTAP) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

3 Dividend Stocks That Pay You Better Than Coca-Cola Does
Wed, 19 Aug 2020 10:26:00 +0000
The strength of its dividend is just one of the reasons why investors, including Mr. Warren Buffett, choose to hold Coca-Cola (NYSE: KO) stock. Berkshire Hathaway began purchasing Coca-Cola in 1988, and through subsequent purchases and four two-for-one stock splits, Buffet has built a collection that now totals 400 million shares. Consequently, the $1.3 billion investment yields $656 million annually in dividend income.

China’s Pinduoduo To Join Nasdaq-100, Pushing Out NetApp
Sun, 16 Aug 2020 12:09:51 +0000
Nasdaq has announced that Pinduoduo, Inc. (PDD), will join the NASDAQ-100 Index and the NASDAQ-100 Equal Weighted Index before market open on Monday, August 24, 2020.Pinduoduo, one of China’s largest e-commerce companies, will replace US hybrid cloud data services company NetApp, Inc. (NTAP) in both indexes.NetApp, Inc. will be also be removed from the NASDAQ-100 Technology Sector Index before the market opens on Monday 24- with Pinduoduo added to the NASDAQ-100 Ex-Technology Index at the next quarterly rebalancing.Shares in PDD have rallied an impressive 124% year-to-date, while NetApp is down 33%.With shares now at such high levels, analysts have a cautiously optimistic Moderate Buy consensus on Pinduoduo with an average price target of $83- indicating that the stock can pull back 2% from current levels.According to JP Morgan’s Alex Yao the company’s “strong” execution is creating a better long-term financial outlook. He has just raised his PDD rating from Sell to Hold while boosting his price target from $25 to $85.Goldman Sachs’ Piyush Mubayi also praised PDD’s ‘unique value proposition’ to online shoppers in China as well as the acceleration of e-commerce during Covid-19- but believes shares now show ‘limited valuation attraction.’Meanwhile the Street has a more bearish Hold consensus on NetApp with an average analyst price target of $48 (15% upside potential).Oppenheimer’s George Iwanyc has a Hold rating on NTAP but says that he expects the company to continue to benefit from steady operational execution and a strategic focus on hybrid cloud, accelerating private cloud solutions, and building out its cloud data services.He is also positive on its overall Data Fabric strategy and capital returns program.However “These positives are balanced by dynamic competitive/secular trends and macro uncertainty, leading to our Perform rating with a positive bias” the analyst explained.Related News: Baidu Takes Buyback Program To $3B; Stock Down 6% Post-Print Alibaba’s Ant Group Starts Filing Process For Blockbuster China IPO iQIYI Tumbles 12% On SEC Probe Over Fraud Allegations More recent articles from Smarter Analyst: * Caterpillar Reports 20% Retail Machine Sales Drop; RBC Cautious * Vale Approves $1.5B Serra Sul Iron Ore Project; RBC Bullish * Facebook Barks At Apple For Refusing to Waive 30% Fee On New Online Tool * Walgreens vs CVS: Which Healthcare Stock Is Ready For A Rebound?

Cisco Slides on Weak Outlook, Dragging Down Other Enterprise IT Stocks
Thu, 13 Aug 2020 17:56:00 +0000
The pandemic-gripped economy weighs on the company, as does its reliance on hardware when cloud computing is on the rise.

NetApp Hosts First Quarter of Fiscal Year 2021 Financial Results Webcast
Thu, 06 Aug 2020 20:37:00 +0000
After market close on Wednesday, August 26, 2020, NetApp (NASDAQ: NTAP) will announce financial results for the first quarter of fiscal year 2021, which ended July 31, 2020.

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