In the meantime, things didn’t look bad for Bayer shares in November. The share price of the DAX group from Leverkusen gained momentum and climbed from the multi-year low of 39.91 euros on October 30 to 49.695 euros. But this momentum quickly dried up again and Bayer’s share price moved sideways. On balance, this has now been determining the course of the DAX share since mid-November, which started in 2020 at EUR 48.155.
In terms of charts, two signal marks currently determine the price movements of Bayer shares. Firstly, the support zone at EUR 46.26 / 46.62, which has been in place since November 19, 2020. On the other hand, this is a broad resistance level below the recovery high at 50.14 euros. The zone extends from 49.18 / 49.37 euros to 49.66 / 49.70 euros to 50.14 euros.
If Bayer shares break out of the trading range in a stable manner, procyclical trading signals are generated for the DAX stock. The next technical signal marks for Bayer’s share price are not far away. For example, there is more massive resistance above EUR 52.85 – here the upper end of a downward gap opened at the beginning of October 2020 is EUR 48.52 / EUR 52.85. Supports can be found at around 43.87 / 44.27 euros.