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DavidBelleFX
Sep 14, 2016 1:09 PM

Bayer stock facing upside pressure Long

BAYER AG NA O.N.FWB

Description

Bayer have just taken over Monsanto. This is huge as it brings together two of the biggest pharmaceutical firms globally. Looking technically, I can see some severe upside where investors look to pile into this now global powerhouse (takeover valued at 68bn). I would expect a rally to $112 based off of current market structure and the bullish harami pattern. I would also like to see end of week volumes finish extremely high.
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