I am new here and would like to build a dialogue on SAP. It is too early to call it a short - it may be buying opportunity if the support holds.
Logic: Above 252D EMA & Yearly Pivot, confirmed uptrend. Entry: €110-€111 area. Stop: daily close below 21D EMA (€108.45, -2.29%) or (€104.50,-5.80%). Target: €125
This is not a financial advise. These are my thoughts on Sappi Long hold - Would you buy this gem ? Monthly sitting on the historical support. This is as easy as it gets. Wait for the break buy the retest. $SAP #SAP #JSESAP #SAPPI $JSESAP #JSE $JSE Goodluck Follow me on twitter @muazcoin
As Benjamin Graham says: History repeats itself.. What goes up, must fall. Already in the 1970s he knew it from the centuries-old market history, had and still has the right (00-02, 08, and many others before). Second half of 2018 is not healthy correction for me. Most of big players are overpriced (for me). Another big correction is needed and will come,...
After a short but high volume accumulation price has broken higher (see posts below). A low volume back up (BU) price is now ready to be marked up further. The relative strength to the Top 40 has turned positive and there is divergence with the volume RSI confirming the markup.
a trend reversal on sappi after CEO left for top job at Eskom lets see how it plays out a buy opportunity is possible
SAP has been in a large upward trend. With a double bump and run, an island bottom, and a diamond bottom. Recently the price has been near a death cross however this has been averted with the recent price rise. Volume has recently seen a steady decline. Expect this bullish trend to continue.
After distribution and markdown, we have seen climax volume as buyers are stepping in. Price has now broken the downward trend it looks like the price could be breaking higher.
JSE:SAP formed a bullish harami off of a descending support line which also coincides with a support level from early 2015. It is looking very promising for an upward move.
Bearish in short run -to bonce back to around 113 - 114. Period from: Feb 5 - Sept 20th Why: When looking at the six month chart it waffles before trending upward or downward. The waffles have become larger. By placing indicators at the end of large buys and sells, this gives you a range of how far the next break out is going to go.
JSE:SAP formed a bearish engulfing candle pattern yesterday which could signal a reversal. This seems to be whats happening at the moment. For the lat couple of months it has been making lower lows quit regularly. If the price breaks through the latest lower low from the 16th of Jan, I will consider entering a short position.
SaP Continued and reached expected trendline, even dropped below. Now we will probably see small retracement and its still not sure if we almost finished ABC 3-3-5 correction (5th wave still need to be finished) or it was only Wave A) and wave B is comming in next week or so.
Interesting observation on Sappi (SAP.JSE). The bottom of the range coincides (almost) with the 200 day moving average. Becomes a STRONG buy at R80.00. buying here makes it easy to place your stop loss as a breach of the 200 day moving average would signal a bearish break lower. Take profit level is the top of the sideways channel.
Will allocate off these levels - Bias to the downside here - Price has broken yellow trend-line
Jugdment of their scandal and change of their tech. but this is necessary to provide new tech. in the incoming "new age"
Bearish divergence on the OBV indicator and we have stuck right at a major resistance area shows we probably will pull back
SAP needs to break out current 70-75 level or continue to prolonged downtrend with key supports at 60-ish and 55-ish meaning ~20% downside by Sep'15