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SAP Set to Possibly Pullback After Yesterday's Rally of 1.02%

By James Quinn

SAP (NYSE:SAP) traded in a range yesterday that spanned from a low of $104.98 to a high of $105.44. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $105.14 on volume of 443,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of SAP on December 30th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $86.65. Since that recommendation, shares of SAP have risen 19.9%. We continue to monitor SAP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

SAP share prices have moved between a 52-week high of $105.44 and a 52-week low of $62.57 and are now trading 68% above that low price at $105.07 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Keywords: rebounders

Ticker(s): SAP