SAP.DE climbs to highest close since October 16, 2001
Moving higher for the 12th day in a row, SAP.DE ended Thursday at 104.30 surging €1.48 (1.44%) on high volume. This is the biggest single day gain in over a month. Today's closing price of 104.30 marks the highest close since October 16, 2001. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 103.52, the market confirms its breakout through the prior session's high having traded €1.02 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Thursday's trading range was €2.98 (2.92%), that's far above last trading month's daily average range of €1.44. Weekly volatility is also higher, being way above the markets average with the monthly volatility being way above average.
In a volatile session, prices traded above the previous day's high as well as below the prior day's low, forming a bullish Outside Bar.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Even though both sentiments are bullish for the next trading day, the classical technical analysis metrics are only bullish while our quantitative statistics show a very bullish sentiment.
Market Conditions for SAP SE
|Close to S1 Support||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
|2 Consecutive Higher Closes||TQ Pro Members Only|
|Bounced off Technical Support S1||TQ Pro Members Only|
|High close to previous High||TQ Pro Members Only|
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