Trend Table for SPNS - Sapiens International Corporation N.V.

Current Trend Strength: Weak or Absent

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Dec 15	C	Weak or Absent	Up	Up	Up	32.60%
Dec 14	C	Weak or Absent	Up	Up	Up	34.67%
Dec 13	D	Weak or Absent	Up	Up	Up	38.34%
Dec 12	C	Weak or Absent	Up	Up	Up	40.49%
Dec 11	D	Weak or Absent	Up	Flat	Up	42.16%
Dec 8	D	Weak or Absent	Up	Down	Flat	43.04%
Dec 7	D	Weak or Absent	Up	Down	Flat	43.43%
Dec 6	D	Weak or Absent	Up	Down	Down	45.57%
Dec 5	D	Weak or Absent	Up	Down	Flat	43.15%
Dec 4	D	Weak or Absent	Up	Down	Up	42.76%