SAP SE bearish scenario: for XETR:SAP by legacyFXofficial

The technical figure Pennant can be found in the daily chart in the German company SAP SE ( SAP SE is a German multinational software company. It develops enterprise software to manage business operations and customer relations. The company is the world’s leading enterprise resource planning (ERP) software vendor. SAP is the largest non-American software company by revenue, the world’s third-largest publicly traded software company by revenue, and the second largest German company by market capitalization. The Pennant has broken through the support line on 17/08/2022, if the price holds below this level, you can have a possible bearish price movement with a forecast for the next 6 days towards 89.85 EUR. Your stop-loss order, according to experts, should be placed at 94.47 EUR if you decide to enter this position.

SAP SE has announced the acquisition of Askdata for an undisclosed amount to tap the growing demand for data and analytics solutions.

Per a research from Fortune Business Insights, the global big data analytics market is projected to reach $655.5 billion by 2029, at a CAGR of 13.4% from 2022 to 2029.

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