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SAP Crosses Below its 10-day MA (SAP)

By James Quinn

SAP (NYSE:SAP) crossed under its 10-day moving average of $81.21 on a volume of 116K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of SAP have traded between a low of $62.57 and a high of $82.19 and are now at $80.78, which is 29% above that low price. The 200-day and 50-day moving averages have moved 0.11% higher and 0.12% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of SAP on March 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $78.12. Since that recommendation, shares of SAP have risen 4.4%. 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