Bayer shares: Possible short-term bottom found at 40 euros - before further ramp-up?

Bayer shares: Possible short-term bottom found at 40 euros - before further ramp-up?

According to a report by www.finanzen.net, Bayer shares are in a long-term downward trend, but may have reached a short-term bottom around 40 euros. The shares have been trending sideways for days and could be on the verge of another run up to the 50 EMA.

Bayer shares reached today's daily low of 39.82 euros, but were then able to recover and rise above 40 euros. The papers are currently showing a bullish daily candle, with a small candle body and a long lower shadow directly at the support around 40 euros. There could now be a rise to the resistance around 42 euros, and then to the 50 EMA at currently 44.13 euros. As long as the support around 40 euros largely holds, prices can be expected to continue rising in the short term and a recovery in the overarching downward trend.

If you analyze the facts from the article and look at the possible effects, a rise in Bayer shares could be imminent due to the resistance mentioned. This increase could have a positive impact on the market and increase investor confidence in the company. This could also have a positive impact on the industry, as rising Bayer share prices could also be a signal for the healthcare and pharmaceutical industries as a whole.

In terms of the consumer, a rise in Bayer shares could mean the company is becoming financially healthier. This could have a long-term positive impact on the prices of the company's products.

A long position with an Open End Turbo (SQ2BAF) from Société Générale is recommended. The price target is in the area of ​​the 50 EMA around 44.00 euros, the stop at 39.00 euros.

Disclaimer: The trading idea is a service from finanzen.net GmbH in cooperation with the service provider FSG Financial Services Group. The named service provider is solely responsible for the product selection and the content of the article.