NetApp Inc shows bullish candlestick in larger timeframe

NTAP price action shows bullish candlestick pattern in the Monthly Chart. As well as in Weekly chart, it shows steady rejection and showing a sideways consolidating trend.

Lets analyze first weekly timeframe:

1. We can see during April'25 (Tariff Trauma weeks) the price made a low of $74, breaching down the $80 mark.
   
2. But within one week it again regains back the strong, historical demand zone of $80 and continue it's upsurge towards $100. It made a recent weekly high of $102.
   
3. Last 3 weeks was a consolidating around $97 to $100 level, keep on honouring the support of $97.
   
4. Last week, during timid FY24-25 Q4 earnings, we can see it falls back to $94. And seen a rejection there during last trading session of Friday, 05/30 and close the week with a Dragronfly dozi candlestick pattern (albeit the body color is red). Still the bottom rejection wick and holding back $97 is a sign of 'don't give up so easily'.
   

Whereas in monthly timeframe, it shows absolute bullishness:

1. The April month candle was a book-perfect Dragronfly doji.
   
2. This May month candle is a super bullish (sort of) Marubozu candle, even the low is above the last monthly close.
   
3. It's indicates a confirmative bullishness in monthly
   

Verdict:

1. This NTAP counter is expected to be sideways-to-bullish in coming weeks.
   
2. Immediate Support levels are: $97, $89 (200 WSMA), $80.
   
3. There is no reason of it getting close below $80. That's becomes the new normal Low of the counter.
   
4. It's going through a typical consolidation and distribution phase for gathering new energy to resume it's upmoving in coming medium terms.
   
5. Stay Invested or Keep on accumulating, specially on every dips.