BAYN: Long (end of cycle + support)Hello everyone!!!
Bayer AG at the channel support. There is hope for the end of the bearish trend that began in 2015.
Additionally, according to the cyclical analysis, we can see the completion of a cycle of 1610 days (or 230 weeks, or 4.5 years). The cycle was repeated 7 times: of which 5 times there was an increase in the share price and 2 times - a fall. Therefore, this time too, we can expect the price to rise at least to the slope and horizontal resistance lines - about € 79 or 70% = take profit.
My stop loss is set at € 42.610 (about -12% and 3% below the last local low).
As for the indicators, the background is bullish. However, there was a huge bullish gap in 1996 and it has not been closed until now ....
I plan to increase my position using the pyramiding method.
Not a recommendation, not advice.
I wish everyone a lot of profit !!
PS
Bayer AG - is a German multinational pharmaceutical and life sciences company and one of the largest pharmaceutical companies in the world. Headquartered in Leverkusen, Bayer's areas of business include human and veterinary pharmaceuticals; consumer healthcare products; agricultural chemicals, seeds and biotechnology products. The company is a component of the Euro Stoxx 50 stock market index. Werner Baumann has been CEO since 2016.
Founded in Barmen in 1863 as a dyestuffs factory, Bayer's first and best-known product was aspirin.
en.wikipedia.org
