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SmarTrend Watching for Potential Pullback in Shares of SAP After 1.77% Gain

By Shiri Gupta

SAP (NYSE:SAP) traded in a range yesterday that spanned from a low of $87.48 to a high of $88.20. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $87.52 on volume of 529,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, SAP share prices have been bracketed by a low of $62.57 and a high of $92.76 and are now at $87.92, 41% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

SmarTrend is monitoring the recent change of momentum in SAP. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of SAP in search of a potential trend change.

Keywords: rebounders

Ticker(s): SAP