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SAP ready for a slow n steady climb back up ? SAP was until recently the largest tech company in Europe, Now replaced by PROSUS but after a disappointing Q3 earnings it fell 20%+. Total revenue fell 4% to €6.54 billion, cloud and software revenue fell 2% and operating profit fell 12%. However, Pure-cloud services grew 11%, to €1.98 billion. SAP’s revenue was around €300 million under expectations, though per-share profit beat expectations. “Over the next two years, we expect to see muted growth of revenue accompanied by a flat to slightly lower operating profit. After 2022 momentum will pick up considerably though. Initial headwinds of the accelerated cloud transition will start to turn into tailwinds for revenue and profit. That translates to accelerated revenue growth and double digit operating profit growth from 2023 onwards,” SAP CFO Luka Mucic said in a call with analysts. Looking to scale in when price is in BUY ZONE (purple box), with Entry target of $100. Stop Loss $90. Exit target MINIMUM 2:1 RR , look at levels to find an exit. This will probably be a longer term play due to the revised forecast targets being pushed back from 2023 to 2025 THIS IS NOT FINANCIAL ADVICE, JUST A RANDOM IDEA
NYSE:SAPLong
by STONKZZZ
Update on Nasdaq Regression Trends, Support and ResistanceUpdating these charts for this week as the market character continues to change. If the NASDAQ is going to return to the regression mid-point lines for 1yr, 2yr, 5yr and 35yr, there is still significant drawdown to happen in the next couple months. Over the past two weeks, the index has gone up and down, but has consistently followed bearish trend lines, even on up days. Investors are rotating through sectors looking for safe havens that will hold up well. Real Estate was last week, Energy is this week. Unless something changes (economic stimulus, other news), I'm still expecting a 0.5-3% drop this week (especially if China-relations further deteriorate from the TikTok stall) and 13-15% into mid-October. Lots of others expecting these drops as well. Look at Call/Put Ratios and SQQQ Volume continues to be high.
NASDAQ:IXICShort
by drewby4321
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