Shortly before today’s XETRA start of trading, a quick technical chart look at the SAP share, which is facing a clear buy signal. After the DAX-listed software title had to struggle for some time with problems at the technical chart resistance levels around 105.40 euros and the 50-day line at 106.25 euros, current indications for SAP’s share price on Tuesday morning are just below 108 euros . Yesterday the traditionally rather low volatile DAX value went out of trading at EUR 105.26. Before that, there was a vain attempt to overcome the technical chart hurdle at 105.40 / 106.28 euros, which had determined the last few days.
The breakout scenario that is currently emerging happens on several levels – we had pointed out this possible technical chart signal for the SAP share several times in the past few days, most recently yesterday morning. With the breakout over the zone around the 50-day line, the scenario is now active and the area at 105.40 / 106.28 euros provides the first technical support for SAP’s share price.