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Bayer shares have a turnaround opportunity: Now is what counts! – Chart analysis

Are Bayer shares actually starting to countermovement the horror performance of recent times? As a reminder: At 39.91 euros, Bayer’s share price only reached a new multi-year low on Friday last week. From a chart point of view, all downtrends are intact. And yet the movement of the last few days, especially this week, could give rise to a trend reversal fantasy.

And this morning, the unclear situation surrounding the US election is still unknown for share prices, including Bayer shares, but early indications for the DAX are pointing upwards. These are currently at EUR 42.06 / EUR 42.36 after EUR 41.96 at yesterday’s XETRA closing price, but their informative value is still limited.

As early as the end of October we pointed out the potential for a bottoming out around the 40 euro mark. This potential could actually have built up between 39.91 euros and 40.29 / 49.34 euros. Bayer’s shares now need procyclical buy signals in order to be able to start a recovery movement, because the chart-relevant hurdles are near or are already in focus.

So the conclusion from the latest 4investors chart check on Bayer shares remains: If there were now a stable jump back above the 42 mark, the hope for a recovery could increase. With 43.18 / 43.27 euros and above all a technical chart hurdle around the corona crash low at 44.855 euros, further buy signals would be due to really improve the picture here. If this does not succeed, the downtrend threatens to push Bayer’s share price below the 40 support zone. Then even a fall in the direction of the 35 mark and the area between 33.665 / 33.815 euros and 32.17 / 32.52 euros could be due.

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