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SAP Bullish Moving Average Crossover Alert (SAP)

By Amy Schwartz

Today, shares of SAP (NYSE:SAP) have crossed bullishly above their 10-day moving average of $88.61 on a volume of 168K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

SAP share prices have moved between a 52-week high of $91.00 and a 52-week low of $62.57 and are now trading 43% above that low price at $89.22 per share. 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 15.4%. 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