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


SAP SE (SAP.DE) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
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
TQ Sentiment
Report Sentiment: 71% Bullish
Technical Forecast:
Overview

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 chart for SAP.DE
Volatility

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.

Price Action

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.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

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
Condition Forecast Direction Win Avg Worst Best Events
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
More market conditions identified for TQ Pro members...
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