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SAPPI LTD

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SAP trade ideas

Sappi showing strong downside to R42.39 thanks to a TriangleSymmetrical Triangle formed on Sappi. This is where a pattern moves neither up or down just sideways. We then had a break down, which confirmed the trend direction. 200>21>7 - Bearish RSI<30 - Bearish Target R42.39 INTERESTING FACTS Sappi Limited is a South African pulp and paper company founded in 1936. The company has operations in over 40 countries across the world. Sappi produces a variety of products, including printing paper, packaging paper, and speciality paper. The company is the world's largest producer of dissolving wood pulp, a key ingredient in the production of rayon and other textiles. Sappi is also a leading producer of graphic paper, which is used for printing magazines, brochures, and catalogs. It's also traded on the NYSE!
JSE:SAPShort
by Timonrosso
SAP Short term idea published earlier on our client platform. Entry at current levels (4817c), or on an intraday rebound. Key Technical Drivers: Poor candle structure at horizontal support + MACD below zero with a bearish crossover + 14-day RSI below 45 (nearing a breach of the incline support). Also note the share has struggled to reclaim it's 200-day SMA. Should the aforementioned support level be lost, the unfilled gaps to the downside at 4598c and 4502c are likely to be targets. Time stop: 28 April 2023 TRADING LEVELS: Entry: 4817 Target: 4380 Stop-loss: 5195 For more research insights including trade ideas, get in touch today.
JSE:SAPShort
by techpers
$JSESAP - SAPPI: Still Medium-Term Bullish, Short-Term TentativeI last covered SAPPI in November 2022. The bullish medium-term outlook is still intact as price is not threatening the 1720 zac level. On the cautious side, the decline from 6348 to 3937 could be the first leg of a bigger three wave flat pattern. The rally from 3937 to 5835 is either wave 1 of a new bullish impulse wave or wave (a) of wave ((b)) of a flat pattern that is part of the bigger correction. I will use the bullish case as my preferred count until it is invalidated by a break below 3937. Sappi released Q1 results for the period ended December 2022 yesterday. As much as these results were the best ever first quarter results, the outlook has a lot for investors and traders to chew on. With these results out the way and incorporated into the share price, I will monitor Elliott Wave patterns above the critical 3937 price level.
JSE:SAP
by Loyiso_BlaqueSoros_Mpeta
Sappi - R37 HeldLong term levels matter. In this case, 3700c was key for Sappi, which, if you extended your lookback period, was a long term buy zone. On 12 September, I published a client report titled: "Technical Insights & Perspectives: 25 Key Charts". In fact, the report was public as I posted it to my Twitter and LinkedIn account on that same Sunday afternoon. The thesis at the time was as follows: Sappi Ltd (SAP, 4096c) - Monthly Chart. Key Takeaway: The ~3700c area has been an important historical level. The current consolidation is reminiscent of the period July 2014 to September 2015. Extending our lookback period, we note the 3700c level being a key demand/supply zone. Here, we also note the price having consolidated at this level on two occasions since 2005, following which rebounding off this area, resulted in a multi-month advance. The current level sees a similar consolidation. Here, a breach of the downward trend line extending back to the peak of September 2018 would suggest a potential continuation of the long term bullish reversal from the March 2020 lows. Provided the monthly chart/candles price action improves, this may be one to watch as a continuation trade following a strong move off September 2020 base. Following the post (with SAP at 4096c), we saw a move to 3700c before a strong rally to the recent highs of 4737c for a 28% move. Congrats if you got in and held... For more real-time insights and trade ideas, get in touch today...
JSE:SAP
by LD_Perspectives