The SAP share has received the first of two important buy signals in terms of chart technology: In yesterday’s XETRA trading, obstacles at 102.92 / 103.60 euros were overcome, which took more than a month after the DAX’s recent price drop to 89.94 euros blocked a further recovery of the SAP share price for a long time. The software value climbed to 105.08 euros yesterday and was able to close the day’s high at 105.00 euros (+2.14 percent). Current indications on Friday morning are trading somewhat weaker at 104.56 / 104.98 euros, but the breakout above the technical chart obstacle zone is still active.
As already outlined last time, the SAP share has to clear a second obstacle in the current price region in order to create new upside potential. This is the lower limit of the recently opened downward gap at EUR 105.40 / EUR 124.08. A jump over this could turn the next hurdles between 110.54 / 111.68 euros and 114.20 / 114.86 euros into targets.