Bayer is a global company which act in healthcare and agriculture sectors with huge profit and this sector is good to invest, BUT.
Here could come time for SHORT our positions. This is a short term trade, because from long term i guess this company will grow and create value.
If we look at the chart, we can see value moving at the top of this . Right now, we are trading this stock at the value 99,2.
We are under 200 and 100 (daily) and need to break 50 .
looks good for us, wer are in the overbuy area and curves has crossed.
is neutral for us.
There was another sharp , which has been created at the bottom and here was a chance it will break the big . But it seems that won't happened, because the value of stock is going out of the yellow channel, but the value still can break the one.
In this trade we risk a little and can reach a lot.
In the middle of this channel we could spot good fundamental news for Bayer and it caused big gap.
Stop loss: 102
This is low risk trade, because we have set a small SL, but i belief we can get nice profit from this trade. Good luck guys.
Guys, set your SL to the breakeven, so that our trade would be riskfree.
At green level, there is a strong support, but indicators are still positive for us. Stoch RSI looks good, MACD is getting closer to crossover downwards. Maybe there will be a little bounce from this support, but we have earned some money from this trade as we reached out first target level and now we are in riskfree trade.
I still believe we can get from this trade much more. I will keep you informed.