SAP SE (SAP) stock rose in its recent intraday trading, following a rebound from the key support level at $285.50. This level represents the neckline of a potential bearish technical formation—a double top pattern developing in the short term. The stock’s rise attempts to recover part of prior losses and relieve its clearly oversold Stochastic conditions, especially as a bullish crossover begins to appear. However, the stock had previously broken a short-term ascending trendline and continues to face negative pressure from trading below the 50-day simple moving average, which increases the likelihood of further losses in the near term.

Therefore, we expect the stock to decline in upcoming sessions, especially if it breaks below the $285.50 support level, which would confirm the validity of the emerging pattern, targeting the initial support level at $269.90.

Today’s price forecast: Bearish.