SAP shares stay in the basement: What needs to happen now – chart analysis

In terms of charts, the SAP share has been able to stabilize around the 90 euro mark after the recent price crash in the region. So far, the share price of the DAX-listed software company has not been able to break free from the basement. An initial recovery movement encountered resistance around the 103 euro mark and remained well below a recently opened downward gap at 105.40 / 124.08 euros. The youngest Profit warning from SAP was the trigger for this horrific price development, which could not be stopped until the beginning of November at EUR 89.93. After the SAP share went out of trading yesterday at EUR 100.00 (+1.49 percent), current indications on Thursday morning are just below the EUR 100 mark.

Without a rise in the SAP share back above the lower gap limit, the consequences of the “share price horror” at SAP will remain. The resistance zone below this gap limit shows a second core resistance level at the recent recovery highs at 102.92 / 103.34 euros. If the SAP share succeeds in jumping over both brands, these would be strong buy signals from the chart that could trigger a clear recovery movement.

However, the longer such signals are absent, the greater the dangers of another price setback for the DAX-listed software title. Support for the SAP share in this bearish scenario can still be found above all in the zone around 89.93 / 90.70 euros, the low of the crash after the profit warning. Smaller supports can be found above between EUR 93.71 / 94.16 and EUR 94.60 and at EUR 96.11 / 97.16.

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