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Biofrontera share: Hype over? – Chart analysis

After the wild upward movement of the Biofrontera share from 2.705 euros to 5.67 euros within a few days, the air now seems to be out of the paper. Since last Friday’s top, Biofrontera’s share price has fallen to 4.48 euros, which is the previous day’s low on Wednesday. The share of the Leverkusen company is currently only slightly higher at EUR 4.50 (-5.36 percent). There was a noticeable decrease in sales, which were extremely high, especially on Friday and Monday and thus around the high level of activity.

In terms of chart technology, the Biofrontera share has now approached an initial stronger support zone after the paper recorded a false breakout in the resistance area at EUR 5.50 / EUR 5.57 in the last few days and thus a countercyclical sell signal. The core of the support area is 4.45 / 4.50 euros, a drop below this could put the Biofrontera share under significant pressure again – especially if smaller follow-up supports are undercut at 4.24 / 4.33 euros. On the other hand, a rebound from the support area currently in focus and a subsequent rise above EUR 4.67 / 4.75 would be seen as a possible signal of a possible new stronger upward movement.

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