46.56 euros – the previous low for Bayer shares in trading today … Wasn’t there something? Right! The share price of the Leverkusen company had fallen to as much as 44.86 euros in the wake of the Corona crash. But the low of March 16, 2020 is exposed compared to the daily lows from around this day. There, at 46.58 / 46.83 euros, “bird-based” technical support for Bayer’s share price had formed. This is exactly where the DAX started today, after yesterday News from Bayer on the outlook for 2021 ensure a substantial slide today Bayer’s share price is currently listed at EUR 47.27, down 11.58 percent.
While many of the stock market media are almost overturning catastrophe headlines about Bayer shares, the aforementioned technical chart support area for the Leverkusen’s share price could become a lifebuoy. The intraday price trend of the DAX stock in the first XETRA trading hour shows clear stabilization tendencies at the brand at 46.58 / 46.83 euros, plus the nearby strong support zone in the form of the Corona crash low.
Of course, that does not have to mean that the price slump can currently be shelved. However, these two chart-technical signal marks give Bayer shares an opportunity to limit the disaster – and that would be the basis for a possible countermovement to the losses, which go far beyond today’s minus. As a reminder: On June 23, Bayer’s share price was quoted at 73.63 euros, it was the previous peak of the recovery movement after the Corona crash, which is now almost completely sold out. The further course of trading on Thursday could therefore be extremely interesting for the share of the Leverkusen company – more on this during the course of the day and in the next few days 4investors!