SAPPI LTDShort
SAP
Short term idea published earlier on our client platform.
Entry at current levels (4817c), or on an intraday rebound. Key Technical Drivers: Poor candle structure at horizontal support + MACD below zero with a bearish crossover + 14-day RSI below 45 (nearing a breach of the incline support). Also note the share has struggled to reclaim it's 200-day SMA. Should the aforementioned support level be lost, the unfilled gaps to the downside at 4598c and 4502c are likely to be targets. Time stop: 28 April 2023
TRADING LEVELS:
Entry: 4817
Target: 4380
Stop-loss: 5195
For more research insights including trade ideas, get in touch today.
Entry at current levels (4817c), or on an intraday rebound. Key Technical Drivers: Poor candle structure at horizontal support + MACD below zero with a bearish crossover + 14-day RSI below 45 (nearing a breach of the incline support). Also note the share has struggled to reclaim it's 200-day SMA. Should the aforementioned support level be lost, the unfilled gaps to the downside at 4598c and 4502c are likely to be targets. Time stop: 28 April 2023
TRADING LEVELS:
Entry: 4817
Target: 4380
Stop-loss: 5195
For more research insights including trade ideas, get in touch today.
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