Bayer AG (ADR) Stock Forecast
Bayer AG (ADR) stock upgraded to Buy Candidate.
(Updated on May 08, 2024)
The Bayer AG (ADR) stock price fell by -0.517% on the last day (Wednesday, 8th May 2024) from $7.72 to $7.68. During the last trading day the stock fluctuated 1.57% from a day low at $7.63 to a day high of $7.75. The price has risen in 7 of the last 10 days and is up by 5.79% over the past 2 weeks. Volume has increased on the last day by 370 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately $12.56 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $7.72 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -3.00% during the next 3 months and, with a 90% probability hold a price between $6.65 and $7.48 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BAYRY Signals & Forecast
The Bayer AG (ADR) stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $7.55 and $7.39. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -0.517%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A buy signal from a double bottom formation was found on Tuesday, April 16, 2024 and based on theory for this formation the price should go up by 11.01% to $8.53 within 19 trading days since signal was issued (Thursday, May 09, 2024).
Support, Risk & Stop-loss for Bayer AG (ADR) stock
Bayer AG (ADR) finds support from accumulated volume at $7.55 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.120 between high and low, or 1.57%. For the last week, the stock has had daily average volatility of 1.38%.
The Bayer AG (ADR) stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $7.48 (-2.66%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 77 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (BAYRY) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Bayer AG (ADR) to open at $7.69, and during the day (based on 14 day Average True Range), to move between $7.51 and $7.85, which gives a possible trading interval of +/-$0.173 (+/-2.25%) up or down from last closing price. If Bayer AG (ADR) takes out the full calculated possible swing range there will be an estimated 4.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.72 (0.52%) than the support at $7.55 (1.69%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Bayer AG (ADR) will release earnings -- on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.420. We will update the financials statements for Bayer AG (ADR), that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.31% in the first trading day after earnings release.
Is Bayer AG (ADR) stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.075 Buy Candidate Upgraded
Predicted Opening Price for Bayer AG (ADR) of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $7.69 ( 0.0859%) | $7.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BAYRY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.81 | 1.65 % | |
| R2 | 7.76 | 1.05 % | ||
| R1 | 7.73 | 0.683 % | ||
| Current price: | 7.68 | |||
| Support | S1 | 7.64 | -0.511 % | |
| S2 | 7.61 | -0.88 % | ||
| S3 | 7.57 | -1.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.88 | 2.60 % | |
| R2 | 7.78 | 1.30 % | ||
| R1 | 7.72 | 0.520 % | ||
| Current price | 7.68 | |||
| Support | S1 | 7.55 | -1.69% | |
| S2 | 7.30 | -4.95% | ||
| S3 | 6.99 | -8.97% |
BAYRY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | Apr 29, 2024 | May 13, 2024 | $0.0191 | 0.249% |
| 2 | Aug 01, 2023 | May 02, 2023 | May 15, 2023 | $0.632 | 4.33% |
| 3 | May 02, 2022 | May 02, 2022 | May 16, 2022 | $0.549 | 3.33% |
| 4 | Apr 28, 2021 | Apr 28, 2021 | Apr 28, 2021 | $0.594 | 3.65% |
| 5 | Apr 29, 2020 | Apr 29, 2020 | Apr 29, 2020 | $0.769 | 4.60% |
FAQ
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