Bayer - bullish

This is an update of the charted idea posted on March 13, 2021. The bullish crossover of the 50MA coming up above the 200MA has now happened. The price remains above the green Ichimoku cloud (positive). The Heikin Achi candlestick are small with long wicks on either side, indicating some indecision regarding direction. This could still go on for a while. In the short term, based on the positive sentiment but with the lack of momentum behind it, price could make a swing lower and then break the higher resistance zone (red box). Possible target shown in blue. Bayer AG is a German multinational pharmaceutical and life sciences company and one of the largest pharmaceutical companies in the world. Bayer hasn't had the easiest of times, with the price in decline since all time highs in 2015. Keen to know what others think. Please leave a comment or link to your own ideas! Charts are for information purposes only. Not trade suggestions. DYOR (Do your own research) - act responsibly with your money.


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