Germany: Bayer prepares to resume the decline – Analysis – 26-4-2019

Bayer shares price ended its intraday positive rebound by providing negative close below 62.85 level, which forms additional resistance to increase the chances of renewing the negative attempts in the near term and medium term basis, also, the consolidation of the moving average 55 below the bearish channel’s resistance that appears on the chart increases the chances of gathering the negative momentum to keep waiting to achieve 57.40 followed by 52.50 levels.

Also, stochastic decline below 50 level reinforces the bearish overview by providing additional negative momentum to force the price to form strong negative trades to manage to achieve the waited targets.

The expected trading range for today is between 63.00 and 57.40

The expected trend for today: Bearish