Open buy · week 10 · earnings on October 21
SAP gains 4.1% and prints a new 30-week high that the weekly close fails to confirm
Our view last week
After 2 weeks of gains the recovery ran out at the 100-week moving average, in the 186 area: SAP was turned back and closed down 1.1%, with a bearish engulfing on the daily chart and contracting volumes. SAP stock still holds above its 50-week average, and money flow has been positive for 11 weeks. For swing trading and price action trading, the buy signal still ranks 1st among the 29 open European longs, +16.6% since entry, with earnings on October 21 drawing near.
This week's summary
A week ago the 100-week moving average turned SAP back; now the stock has reclaimed it with a 4.1% gain, bouncing off its 20-day average. The week also brought a new 30-week high that the close did not confirm, and volumes are still contracting. On technical analysis SAP stock still ranks 1st among the 25 weekly buy signals open in Europe, up 21.4% since entry: a swing trading case to follow closely, with earnings due in 2 weeks, on October 21.
IQS Phase
60
ordinary
Signal Strength
87
high · wide move
Sizing
FULL
Ranking
#1 / 25
EU-UK stocks in progress
Trade P&L %
+21.42%
from signal to date, no stop loss
Rank position
ranks 1st among the 25 Longs already running for European-UK stocks in our ranking, with a signal strength of 87 out of 100.
Sector context
SectorEuropean
Benchmark ETFEXV3
Sector regimein positive regime
Performanceweekly -1.13% · monthly +5.44%
SAP belongs to the european sector (reference ETF EXV3). The sector is classified in positive regime according to our weekly reading.
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