In today’s analysis, we will take a closer look at the German pharmaceutical company Bayer.
After the stock’s low of €39.91 on October 30, 2020, Bayer completed a recovery to €56.84. But now the recent upward trend has been broken, as Bayer failed to convince with its 2020 figures. Furthermore, the outlook for 2021 was disappointing. The share is currently trading at €50.12 and has thus fallen by over 10%. The dividend had also been reduced.
These signals caused a great deal of uncertainty among investors.
From a chart perspective, the risk of new sell signals remains. The next supports are at €49.84 and at €46.57.