SAP.DE climbs to highest close since October 16, 2001

SAP SE (SAP.DE) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team


SAP.DE rallies 1.44% on high volume
SAP.DE dominated by bulls lifting the market higher throughout the day
SAP.DE closes higher for the 12th day in a row
SAP.DE ends the day on a bullish note closing near the high of the day
SAP.DE pushes through previous session high


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.

Daily Candlestick Chart (SAP.DE as at Jun 14, 2018):

Daily technical analysis candlestick chart for SAP SE (SAP.DE) as at Jun 14, 2018

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.

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