Peet_Serfontein

SAP: 200-day acted as major support?

Long
JSE:SAP   SAPPI LTD
A bullish trend is applicable above 4240. Crossing below this level will negate the trade idea.
Remains above its 200-day simple moving average.
Upside price momentum supports the bullish trend direction.
RSL leaves enough room for further upside price potential.
The recent gap was filled and the price action might continue a normal price behaviour.
Testing major resistance.
Remains a risky trade.

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