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SAP share: chances of a buy signal – recovery could pick up speed

It was a friendly end to the week for the SAP share, which was able to gain 1.86 percent to 102.78 euros in XETRA trading on the Frankfurt Stock Exchange on Friday based on the closing price. That was also almost the daily high, which is only 4 cents above it. For SAP’s share price, a new upward trend could gradually develop, which with the development of the last two trading days and the increase from 99.98 euros on Thursday to yesterday’s high now comes to three support points.

Of course, this is still neither a stable upward trend nor the breakthrough for SAP shares. Furthermore, the DAX-listed software stock has to overcome strong technical chart hurdles that we have repeatedly pointed out over the past few days. The chart-technical signal areas remain as outlined last, but the starting point of the DAX stock for the coming week is highly interesting after the positive development on Friday.

On the way up, the SAP share continues to stand in the way of the technical obstacles at 102.92 / 103.34 euros, as well as the obstacle at the lower limit of the recently opened downward gap at 105.40 / 124.08 euros. If this area were to be overcome in a stable manner by 103/105 euros, a strong foundation would be laid for a possible clearer recovery movement in the SAP share.

A look at the opposite side: There is still strong support for the SAP share, especially 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. In the last few days the already mentioned zone at 97.35 / 98.05 euros was added as technical chart support for the SAP share, so this mark should also be observed.

Important technical chart data for the SAP share:

Last share price: 102.78 euros (exchange: XETRA – Frankfurt)
Bollinger Bands 20 (bottom / top): 97.28 euros / 102.75 euros
EMA 20: 100.01 euros
EMA 50: 109.01 euros
EMA 200: 118.07 euros

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