BAYN.DE pushes through key resistance level


Bayer AG (BAYN.DE) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
Highlights
BAYN.DE pushes through key resistance level
BAYN.DE closes higher for the 2nd day in a row
BAYN.DE pushes through previous session high
TQ Sentiment
Report Sentiment: 50% Bullish
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, BAYN.DE ended the week -0.38% lower at 93.39 after gaining €0.73 (0.79%) today. Closing above Thursday's high at 92.80, the market confirms its breakout through the prior session's high having traded €1.00 above it intraday.

Daily chart for BAYN.DE
Volatility

Friday's trading range was €1.08 (1.16%), that's below last trading month's daily average range of €1.63. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Breaking through the key resistance level at 92.90 today, it is now likely to act as support going forward.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Order Flow

Selling could accelerate should prices move below the close-by swing low at 91.94 where further sell stops might get triggered.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for Bayer AG
ConditionForecastDirectionWinAvgWorstBestEvents
Closed below last periods low TQ Pro Members Only
Close to Swing High TQ Pro Members Only
2 Consecutive Lower Closes TQ Pro Members Only
RSI(2) below 20 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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