This chart forms part of a larger research note. None of the information posted here (TV) should be considered financial advice.
SAP has performed well for us, advancing from just above 2100c (at the beginning of May) to the recent high of 3553c. Last week’s 3-day pullback saw the price find support at the rising 21-day EMA which is just above the rising 50-day EMA. This is also just above the breakout zone which is often a ‘level of interest’ for traders looking for a fresh accumulation zone. Provisionally, I’m monitoring 2680c down to 2590c as a opportunity once again get ‘long’. Stop-loss: 2450c.
SAP has performed well for us, advancing from just above 2100c (at the beginning of May) to the recent high of 3553c. Last week’s 3-day pullback saw the price find support at the rising 21-day EMA which is just above the rising 50-day EMA. This is also just above the breakout zone which is often a ‘level of interest’ for traders looking for a fresh accumulation zone. Provisionally, I’m monitoring 2680c down to 2590c as a opportunity once again get ‘long’. Stop-loss: 2450c.