Company Description: NetApp, Inc. provides enterprise storage and data management software and hardware products and services. It offers fabric-attached storage and V-series storage solutions, which support mix of storage area network, network-attached storage, and Internet protocol SAN environments; data management software; and storage management and application integration software. The company also provides data protection software products, data retention and archive products, and storage security products, as well as performance acceleration module, which optimizes the performance of random read intensive workloads, such as file services and messaging. In addition, it offers professional, support, and customer education and training services. The company provides its solutions for business applications, storage for virtual servers, and disk-to-disk backup; continuous availability of critical business data and simplify business processes; and storing, managing, protecting, and archiving business data. It markets and sells its products to energy, financial services, government, high technology, Internet, life sciences and healthcare services, major manufacturing, media, entertainment, animation and video postproduction, and telecommunications industries in the United States, Germany, and internationally. The company was formerly known as Network Appliance, Inc. and changed its name to NetApp, Inc. in March 2008. NetApp, Inc. was founded in 1992 and is headquartered in Sunnyvale, California.

Our Analysis: The shares of NetApp, Inc. 'NTAP' moved lower yesterday on heavier than normal trading volume. They finished the day by closing below a recently established support level. This is a bearish trading signal. The shares of 'NTAP' should continue to move lower and test $30.81/share, the point from which they gapped higher on the open of trading on December 1st of last year. If the shares of 'NTAP' close below that level as I expect they will, then they should continue to move lower and test $28.38/share, the point from which they gapped higher on the open of trading on November 9th of last year. I see upside resistance on the shares of 'NTAP' @ $32.45/share, and have set my stops accordingly at $32.87/share.