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Bullish Moving Average Cross by SAP (SAP)

By Nick Russo

Today, shares of SAP (NYSE:SAP) have crossed bullishly above their 10-day moving average of $87.79 on a volume of 188K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, SAP has traded in a range of $62.57 to $88.40 and is now at $88.00, 41% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of SAP on July 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $76.35. Since that recommendation, shares of SAP have risen 14.5%. We continue to monitor SAP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses

Ticker(s): SAP