BAYER AG NA O.N.Long
longterm buy, short-term sell
After the complete 1-5 Elliot-Wave and the correction wave Bayer is still not in an upward trend. Despite Bayer's technical improvement, the stock is still not in an upward trend, and lower lows are not excluded in the coming quarters.
Currently, it appears that Bayer is beginning to move higher, and €46 in October may have represented a bottom. Although we shouldn't get too excited yet, since Bayer isn't technically in an upward trend until the stock moves above the last high of €74 (June 2020) and, ideally, also above the pre-pandemic high of €78. As year is coming close to an end and macroeconomic situation is not at its best, I expect the a bottom touch of €40 before it goes longterm up in the spring of 2023.
Currently, it appears that Bayer is beginning to move higher, and €46 in October may have represented a bottom. Although we shouldn't get too excited yet, since Bayer isn't technically in an upward trend until the stock moves above the last high of €74 (June 2020) and, ideally, also above the pre-pandemic high of €78. As year is coming close to an end and macroeconomic situation is not at its best, I expect the a bottom touch of €40 before it goes longterm up in the spring of 2023.
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