NetApp (NTAP) has had a strong run in the past six months, but further upside gains probably lie ahead, when we look at the charts and indicators.
In this one-year daily bar chart of NTAP, below, we can see that NTAP based in the first half of 2016 -- and then really ramped up starting in August. In August you can see the bullish golden cross of the 50-day and 200-day moving averages, and a big upside gap -- with the strongest volume of the year. More than five months later, NTAP is still above the rising, 50-day moving average line and the rising, 200-day line.
The On-Balance-Volume (OBV) line has been rising since May, before the August breakout. The OBV line has made new highs for the move up recently confirming the price gains. The Moving Average Convergence Divergence (MACD) oscillator is above the zero line.
In this weekly chart of NTAP going back to 2013, above, we can see that prices are above the rising, 40-week moving average line. NTAP has some older chart resistance in the $42 to $46 area, but looking at the rising OBV line and the positive MACD oscillator, I would anticipate that this resistance is overcome.
Bottom line: Aggressive traders can buy NTAP here and on a close above $40, risking a close below $35 for now.