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TRADE ALERT- Buy NetApp into Earnings – Brean Capital

According to a note from Brean Capital Monday morning, its channel checks of NetApp (NASDAQ: NTAP) indicate strengthening demand for its products. Brean believes that shares can continue higher into its August 14 earnings release.

Year to date, the stock is up about 24 percent. It has printed a solid uptrend since April and is well above its 50 day moving average at $39.33. The stock currently trades at $42.52. Also notable is NetApp’s RSI at 73, indicating a stock that is overbought despite a market that spent most of last week in a downtrend.

Other Monday Trade Alerts: TRADE ALERT- Buy Krispy Kreme- Janney Capital

Company Profile

NetApp, Inc. engages in design, manufacture, and marketing of networked storage solutions. The company supplies enterprise storage and data management software and hardware products and services. It offers FAS Storage Platform based on Data ONTAP, an operating system (OS) that supports storage area network (SAN) and network-attached storage (NAS) environments; storage efficiency technologies, such as FlexVol, FlexClone, and Deduplication technologies; and storage management and application integration software comprising OnCommand management software that controls, automates, and analyzes shared storage infrastructures.

[stock-tools exchange="NASDAQ" symbol="NTAP" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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