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SAP trade ideas

$SAP #SAP ... all hands on deck! Support area is 89 -79 USDHi and welcome to my analysis on SAP (NYSE, USD). Yes, we had some news from the software provider that attracted sellers. Trading in Germany on XETRA is closed and no prisoners were taken... In my first chart you can see a broadening top in the stock. SAP was not able to activate this formation to the upside in September...the upper trendline produced heavy resistance and forced a minor reversal... In combination with a bearish engulfing pattern as per end of September... ...and last week's break below the KAMA21 the stage was set for a downturn... The lower megaphone supportline is at 89 USD...this is a target if the bears remain in control. POC (2016 to date) is showing the point of control around 79 USD. Would be nice if you support me with a thumbs up and follow me... Best, Tom Jansen Chief Investor-Guard © Copyright TA Investor-Guard 2020. Charts powered by TradingView. All rights reserved. The information provided here is of a general nature and not legal, tax or investment advice.
NYSE:SAP
by investor-guard
SAP, Pull-Back Since New Highs, These Are Preliminary Level!Hello Traders Investors And Community, welcome to this analysis where we are looking at the stock SAP and what to expect from it the next time. As the main market has recovered from the heavy corona crashes seen this year so also some stocks better some worse, everything that has a huge digitalization quote recovered good from the breakdowns and shown a decent growth as more and more people rely on modern technology and the opportunities arising out of it. The big question is now how long this will hold on and if there comes new bearishness into the market as the crisis is still going on and there are still many divergences between real economy and stocks, in this case also when this possibly happens which need to be considered in order to be prepared rightfully. In SAP I found some important signals which making a possible continuation firstly to the upside possible before bigger pull-backs can be considered within a more likelihood range. As you can watch when looking at my chart is that the stock has just formed new highs within a growth since the corona-lows saw this year. Currently, there is bearish pressure entering the surface pulling the trend back and testing lower supports that need to behold when considering a bullish continuation in the middle-term-perspective. The crucial support in this structure is the support which formed by previous all-time-high price-action at the 128.5 level where the stock consolidates also with the 50-EMA in red together these levels forming a coherent support-cluster here which is marked in orange when the stock holds this cluster and bounces from there the potential for the final wave five to the upside will be given. When this happens we need to elevate and see how the stock approaches higher resistance levels and if there can be a continuation or a bigger pull-back waiting in the start-holes. In this manner, thank you for watching, support for more market insight, have a great day, and all the best to you! Information provided is only educational and should not be used to take action in the markets.
XETR:SAP
by VincePrince
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