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SAP shares dive after profit warning


 SAP, the software company, announced that 3Q adjusted EPS rose 31% on year to 1.70 euros per share while operating profit fell 1% to 2.07 billion euros on revenue of 6.54 billion euros, down 4% (flat in constant currency).

SAP, the software company, announced that 3Q adjusted EPS rose 31% on year to 1.70 euros per share while operating profit fell 1% to 2.07 billion euros on revenue of 6.54 billion euros, down 4% (flat in constant currency). the corporate has lower its full-year adjusted operating profit guidance to eight .1 - 8.5 billion euros from 8.1 - 8.7 billion euros previously and revenue forecast was move 27.2 - 27.8 billion euros from 27.8 - 28.5 billion euros, remarking that "lockdowns are recently re-introduced in some regions and demand recovery has been more muted than expected".


From a chartist’s point of view, the stock price tumbles but remains supported by an extended term rising line in situ since 2008 bottom and is holding above the key horizontal support near 81E. The weekly Relative Strength Index (RSI, 14) fell below 50% and is approaching from the lower end of a downward-sloping channel. The medium term outlook remains bullish as long as 81E is support. Choppy price action are often expected on a brief term basis. Resistance thresholds are set at 122.6E and 143.3E. Alternatively, an opportunity below 81E would involve a reversal down trend with 50E as target. 


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