Short term view - SAP AG VZ : Pull-back
The trend is momentarily interrupted by a consolidation on a shorter time horizon but prices remain above the invalidation level at €93.70. It can resume at anytime towards the target at €108.85.Arguments :
- Prices are pulling back to the major support level (previously a resistance). The rise will resume afterwards.
- The rising moving average confirms our opinion.
SAP is engaged in selling licenses for software solutions and related support services. Co. derives its revenue from fees charged to its customers for the use of its cloud solutions and for licensing of on-premise software products and solutions. Additional sources of revenue are support, professional services, development, training, and other services. Co. has more than 300,000 customers in over 180 countries. Co.'s SAP HANA platform holds the ability to simplify both the user experience and the overall IT landscape, creating a smaller data footprint, increased system throughput, and easier data processing and operation.
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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