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9/09/99 SAP AG (SAP)
Points to watch: SAP
closed at its highest level of 1999 yesterday as it finished the day at
37.63, just above the resistance at 37.38 which had stopped previous
rallies on January 26th and May 20th. The stock has built a solid
base, and looks ready to move higher. Technical indicators have confirmed
the stock's recent rally, with daily RSI rising sharply since early
August, and OBV turning up sharply on September 2nd. We would wait
for the added signal of the stock moving above resistance at 38.63, the
38% retracement of its 7/31/98-3/23/99 decline, before buying.
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