TMCnet News
SAP Falls 5.29% on Heavy Volume: Watch For Potential ReboundJan 15, 2013 (SmarTrend(R) News Watch via COMTEX) -- SAP (NYSE:SAP) traded in a range yesterday that spanned from a low of $77.15 to a high of $78.55. Yesterday, the shares fell 5.3%, which took the trading range below the 3-day low of $80.01 on volume of 4.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision. Over the past year, SAP has traded in a range of $54.78 to $82.90 and is now at $77.56, 42% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.8%. SmarTrend recommended that subscribers consider buying shares of SAP on November 1st, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $73.50. Since that recommendation, shares of SAP have risen 11.4%. We continue to monitor SAP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |