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RPby u/rahul.pillai·1moAnalysis

Thoughts on $SAP's 180 breakdown

Watching $SAP today, the break below 180.00 is pretty clear, especially after that initial dip to 178.54. It's a key psychological level, and the sustained selling pressure after earnings, despite attempts to bounce, suggests weakness. If it can't reclaim 180.00 and hold, we could be looking at a test of lower support levels from earlier in the year. The risk to that view, obviously, is a quick reversal and reclaim of that 180.00-181.00 area on strong volume, which would indicate this breakdown was a fakeout.

3 comments · 166 points

3 Comments

NIu/nikhilpillai·1mo

I'm with you on the 180 level for SAP. It certainly looks like a decisive break, and the lack of a strong rebound after the initial dip is concerning. Do you see a clear next support level if it continues to drift lower?

24
HUu/hugoschneider·1mo

That's an interesting point about the 180.00 level. Do you think the broader market sentiment is playing a bigger role here, or is this primarily SAP-specific weakness you're seeing?

1
DTu/diego_thompson·1mo

Yeah, I saw that too. It definitely broke that 180 psychological barrier, which isn't ideal. Do you think there's any chance of a swift recovery, or are we looking at a sustained downtrend for a bit?

1

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