Bayer shares are threatened with a weak start to the week and therefore not good news in terms of charts. Current indications for the DAX share are quoted at 41.96 / 42.00 euros and thus noticeably below the closing price on Friday, which was quoted in XETRA trading at 42.425 euros (+0.22 percent). Bayer’s mini recovery movement from the new multi-year low of 41.51 euros from Thursday to Friday peaked at 42.89 euros could already be over. Bayer’s share price did not provide any major impetus: Even the long undercutting corona crash low of 44.855 euros as the first potential pullback mark did not even begin to come into danger on Friday.
In terms of charts, the downward trend for Bayer shares remains intact and with one at all levels shaky DAX at the start of the week there are strains from the overall market on top of it. In this environment, the youngest fizzle out good news from Bayer’s pharmaceutical division.
We had recently pointed out that Bayer’s price decline could be even worse than before – especially with the new technical chart sell signals at the Corona crash low at EUR 44.855 and at the older technical chart support zone around EUR 42.57 / 42.81, the Bayers Share price on Friday was also unable to overcome stable again.
So it remains: the next, significantly older support for Bayer shares can only be seen in a broad range around the EUR 40 mark and could be targeted as long as the intact downward trend cannot be quickly broken by the DAX value. At least the two mentioned chart-technical signal marks, now resistance areas for Bayer’s share price, should be overcome. But a fall towards the 35 mark and the range between 33.665 / 33.815 euros and 32.17 / 32.52 euros cannot be ruled out if this does not succeed. Incidentally, the latter brand comes from the time of the subprime crash after the collapse of Lehman Brothers.