NetApp Clears Key Benchmark, Hitting 80-Plus RS Rating

When building your watch list, look for stocks with an 80 or higher RS Rating. NetApp (NTAP) now meets that criteria, with a jump from 80 to 83 Friday.

When you’re researching the best stocks to buy and watch, be sure to pay attention to relative price strength.

IBD’s unique rating identifies price performance with a 1 (worst) to 99 (best) score. The score shows how a stock’s price behavior over the last 52 weeks holds up against all the other stocks in our database.

History reveals that the best-performing stocks typically have an RS Rating north of 80 in the early stages of their moves.

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NetApp is now considered extended and out of buy range after clearing a 65.48 buy point in a first-stage cup without handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.

Earnings growth fell last quarter from -4% to -5%. But sales moved higher, from 3% to 5%. Keep an eye out for the company’s next round of numbers on or around May 27.

NetApp holds the No. 3 rank among its peers in the Computer Software-Storage industry group. SmartGlobalHoldings (SGH) is also among the group’s highest-rated stocks.

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