Network Appliance, Inc. (NTAP) put in a strong performance Thursday.  After gapping down while the rest of the market gapped up at the opening bell, NTAP continued lower. It soon found a bottom at 31.25 and quickly began its ascent. NTAP's first real test was support turned resistance at 32.75.  It passed with flying colors. After breaking through 32.75, it appeared to have the intention of filling the mornings gap. NTAP continued higher into the closing and nearly filled the entire gap. Will the stock continue to show strength?

There are two resistance levels in NTAP's near future. Resistance at the gap top between 33.45 and 33.50 will prove as minor resistance. The real test is at 34, a level at which we saw major resistance on Wednesday as well as a psychological barrier.

FreightCar America, Inc. (RAIL) has seen heavy selling since recently putting in a new 52-week high. The stock has pulled back significantly, and is now sitting on a major support level at 63. This support level has been proven on several occasions, and will likely hold this time around consider RSI levels suggest the stock is currently oversold.

Andy Swan is co-founder and head trader for DaytradeTeam.com.  To get all of Andy's day trading, swing trading, and options trading alerts in real time, subscribe to a one-week, all-inclusive trial membership to DaytradeTeam by clicking here.