Short term view - BAYER : The falling moving average confirms our opinion.
The trend is still bearish, the invalidation level is above €102.60. The target is at €86.80.Arguments :
- Prices have pulled back to the resistance level (previously a support). The fall is now resuming.
- Prices made a new low, the trend is well asserted.
- The falling moving average confirms our opinion.
- The measuring gap, opened in the middle of the fall, reinforces the bearish trend.
Bayer is a life sciences group based in Germany. Co.'s operations are organized along three divisions: Pharmaceuticals (engaged in prescription pharmaceuticals for cardiology and women's healthcare); Consumer Health (engaged in non-prescription products in dermatology, dietary supplement, analgesic, gastrointestinal, allergy, cold and flu, foot care, sun protection and cardiovascular risk prevention categories); and CropScience (engaged in the development of seeds and plant traits; crop protection; and for gardens, the green industry and non-agricultural pest control). Co. also maintains an Animal Health business unit engaged in the development of products for farm and companion animals.
DayByDay is an independent research company providing global macro and single stock analysis, recommendation and allocation based purely on behavioural finance methods. Those include long term cycle analysis, sentiment analysis, and technical trigger. DayByDay serves all clients in need of practical and precise publications to make effective market decisions, on any time horizon, from a few hours to a few years.
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