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Bayer stock after the CureVac deal: reversed trend? – Chart analysis

Bayer stock, a previous “problem child” in the DAX, has performed significantly better since the multi-year low of EUR 39.91 reached at the end of October 2020. Yesterday, the share price of the DAX in XETRA trading peaked at a new recovery high of 53.29 euros before profit-taking began. At the end of the day that Bayer made headlines with a deal with COVID-19 vaccine maker CureVac, Bayser’s share price was somewhat depressed at 52.32 euros (+1.73 percent). This morning, however, the current indications for the DAX value of 53.35 / 53.39 euros are already back in the range of yesterday’s top, even just above it.

It is not surprising that, in terms of chart technology, speculations about the trend in the past weeks have arisen. First, Bayer’s share price was able to exceed the corona crash low of EUR 44.86, which had meanwhile fallen below, and then there were technical buy signals at the lower end of a wide downward gap at EUR 48.52 / 52.85 and the various newly formed hurdles between EUR 49.18 and 50.14 euros.

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