Short term view - SAGE GROUP PLC : The moving average is capping prices.
The trend has been momentarily interrupted by a correction. It approaches the resistance at 672.60 p, which also is the invalidation level. It should cause a fall and resume the bearish trend. The next target is at 535.80 p. The invalidation level is below 672.60 p.Arguments :
- Prices are pulling back to the major resistance level (previously a support). The fall will resume afterwards.
- The moving average is capping prices.
- Prices will test the quality of bearish gap. As long as it remains open, consequences will be bearish.
Sage Group is a technology provider that assists to manage businesses of all sizes. Co. provides a suite of cloud business management solutions and services including accounting, financials, enterprise management, people, payroll, payments and banking, as well as marketplace apps that can be provisioned to match the exact needs of any business. Co. has three reportable segments in which it operates, being Northern Europe (the U.K. and Ireland), Central and Southern Europe (Germany, Switzerland, Poland, France and Portugal) and NorthAmerica (the U.S., Canada and North America Intacct).
DayByDay is an independent research company providing global macro and single stock analysis, recommendation and allocation based purely on behavioural finance methods. Those include long term cycle analysis, sentiment analysis, and technical trigger. DayByDay serves all clients in need of practical and precise publications to make effective market decisions, on any time horizon, from a few hours to a few years.
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