Network Appliance (NTAP) Hits 52-Week High
Posted: Wednesday, November 25, 2009 1:31 PM EDT
Network Appliance (NasdaqNM: NTAP) hit a new 52-Week high of $31.39 so far today. Currently the stock is up $0.41 (1.33%) to $31.35 on 2,472,693 shares traded. Today's high is up $19.69 from a 52-Week Low of $11.66. Network Appliance stock has been showing support around $30.23 and resistance in the $31.45 range. Technical indicators for the stock are neutral and S&P gives NTAP a neutral 3 STARS (out of 5) hold ranking. The stock traded up to a new 52 week high today after it was initiated with a Buy rating from UBS. If you are looking for a hedged play on NTAP the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 27.50 range. [ABR-Seven Summits Strategic Investments NewsBite]
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