Markets

Bayer shares slide to 9-year low

Bayer had only just started to recover from the glyphosate debacle in the USA, the next bad news is already on the horizon. At the same time, the paper has now fallen back to a fresh 9-year low and could be passed on.

Has visibility within two days Bayer The news has lost around 17.50 percent of its value and has moved into the range of the previous year’s lows from mid-March. It already went down sharply in yesterday’s trade. A new annual low for the weekend. The trigger for this was a lowered outlook for this year. In the agricultural sector in particular, growth expectations were significantly reduced during the Corona crisis, it said. This situation is unlikely to change in the near future. The direct effects of the pandemic would be more profound here than initially expected. The receipt followed promptly.

Weekly closing rate crucial

Should the weakness be in the BayerIf the share continues and at least a weekly closing price below 44.85 euros is achieved, this could have medium-term effects on the price development of the security and mean further discounts on the broad horizontal support from the years 2009/2011 of 35.30 euros. However, this will only have to show in the next few weeks. Until then, the security is likely to be very volatile anyway; Bayer– The share is expected to reach 50.00 euros, but higher profits than the level of around 52.00 euros should not be achieved.

  • Resistances: 44.86; 46.59; 49.88; 51.32; 53.05; 54.70 euros
  • Supports: 43.87; 42.38; 41.84; 38.82; 37.38; 36.78 euros

Bayer in euros in the daily chart; 1 candle = 1 day (logical candle chart display)

Observation period: 29.10.2019 – 02.10.2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de/underlying/DE000BAY0017

Bayer in Euro in the weekly chart; 1 candle = 1 week (logical candle chart display)

Observation period: 28.09.2015 – 02.10.2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de/underlying/DE000BAY0017
Products on Bayer shares and other underlyings can be found at: www.onemarkets.de

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The Bayer share contribution slips to a nine-year low first appeared on onemarkets blog (HypoVereinsbank – UniCredit Bank AG).

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