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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