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SAP Breaking Out?
Published on Wednesday, 01 February 2012 18:36 Written by Danny Miller
New York, February 1st (TradersHuddle.com) - Shares of SAP AG (NYSE:SAP) closed the trading session at $61.45 just above calculated resistance at $60.58 effectively breaking out, grabbing the attention of momentum traders, which could eventually push the stock to different trading range
SAP AG (NYSE:SAP) is a multinational software company based in Germany. The Company develops business software, including e-business and enterprise management software, consults on organizational usage of its applications software, and provides training services. SAP markets its products and services around the world.
SAP's stock was trading in a well defined range with support at $51.40 and resistance at $60.58, given that this range was broken traders will be closely monitoring the stock
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