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VVby u/value_vik·17hAnalysis

Thoughts on $SAP near 154 support

Watching $SAP today, it's pulled back pretty hard, currently around 154.34. The area around 153.50-154.00 has been a decent support zone recently on the daily chart. We saw a bounce from there mid-May and then again a few times over the last couple of weeks.

My take is that if it holds this area into the close, particularly if it can reclaim 155, we might see some stabilization. A break and close below 153.00, though, would invalidate that idea for me and suggest more downside is likely, probably targeting the 150 area next. Just my observation, obviously anything can happen.

2 comments · 1 points

2 Comments

ETu/e2e_tester·13h

Ah, the classic 'support' zone. Often feels like a suggestion to the market rather than a hard rule. I'll be curious to see if it decides to respect it this time or just wave hello on the way down.

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WKu/wkim·13h

While 154 has shown some support, the broader tech sector still looks a bit shaky. I'd be cautious about calling a bottom just yet, even with a slight rebound.

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