In the Green: Bullish Indicators and the Quest for 56
Sappi (JSE: SAP)
1. Price Formation: The price has broken out from a Reverse Cup and Handle price formation on a daily chart.
2. Moving Averages: The 7-day moving average (MA) is above the 21-day MA, which is a positive sign indicating short-term bullish momentum.
3. 200-day Moving Average is below the Price.
4. Thus, Mas 7>21>200
5. Relative Strength Index (RSI): The RSI is > than 50, indicating bullish momentum and potential further upward movement.
6. Price Target: 56
Sappi – the company
Sappi (JSE: SAP) is a global company that specializes in producing paper, pulp, and specialty products. They are one of the world's leading producers of dissolving wood pulp, which is used in the textile and pharmaceutical industries.
Sappi was established in south Africa in 1936 to produce paper.
Sappi has manufacturing operations on three continents, with ten production facilities in Western Europe, four in North America, and five in Southern Africa. The company has over 12,800 employees spread across over 35 countries.
The annual production capacity of Sappi includes:
• Approximately 5.7 million tons per year of paper
• Approximately 2.6 million tons per year of paper pulp
• Approximately 1.4 million tons per year of dissolving pulp
Sappi (JSE: SAP)
1. Price Formation: The price has broken out from a Reverse Cup and Handle price formation on a daily chart.
2. Moving Averages: The 7-day moving average (MA) is above the 21-day MA, which is a positive sign indicating short-term bullish momentum.
3. 200-day Moving Average is below the Price.
4. Thus, Mas 7>21>200
5. Relative Strength Index (RSI): The RSI is > than 50, indicating bullish momentum and potential further upward movement.
6. Price Target: 56
Sappi – the company
Sappi (JSE: SAP) is a global company that specializes in producing paper, pulp, and specialty products. They are one of the world's leading producers of dissolving wood pulp, which is used in the textile and pharmaceutical industries.
Sappi was established in south Africa in 1936 to produce paper.
Sappi has manufacturing operations on three continents, with ten production facilities in Western Europe, four in North America, and five in Southern Africa. The company has over 12,800 employees spread across over 35 countries.
The annual production capacity of Sappi includes:
• Approximately 5.7 million tons per year of paper
• Approximately 2.6 million tons per year of paper pulp
• Approximately 1.4 million tons per year of dissolving pulp