Bayer AG (ADR) Stock Forecast
Weaker technical forecast for Bayer AG (ADR) as stock downgraded to Hold/Accumulate.
(Updated on May 17, 2024)
The Bayer AG (ADR) stock price gained 0.772% on the last trading day (Friday, 17th May 2024), rising from $7.77 to $7.83. During the last trading day the stock fluctuated 1.03% from a day low at $7.76 to a day high of $7.84. The price has risen in 8 of the last 10 days and is up by 3.03% over the past 2 weeks. Volume fell on the last day by -493 thousand shares and in total, 935 thousand shares were bought and sold for approximately $7.32 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $8.02 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Bayer AG (ADR) stock with a 90% probability to be traded between $7.15 and $8.16 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BAYRY Signals & Forecast
The Bayer AG (ADR) stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $7.87. On a fall, the stock will find some support from the long-term average at approximately $7.49. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Wednesday, May 15, 2024, and so far it has fallen -2.31%. Further fall is indicated until a new bottom pivot has been found.
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 8.89% to $8.53 within 19 trading days since signal was issued (Monday, May 20, 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 $0.0800 between high and low, or 1.03%. For the last week, the stock has had daily average volatility of 1.35%.
Our recommended stop-loss: $7.57 (-3.32%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 23 days ago.)
Trading Expectations (BAYRY) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Bayer AG (ADR) to open at $7.81, and during the day (based on 14 day Average True Range), to move between $7.67 and $7.99, which gives a possible trading interval of +/-$0.159 (+/-2.03%) up or down from last closing price. If Bayer AG (ADR) takes out the full calculated possible swing range there will be an estimated 4.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.88 (0.64%) than the support at $7.55 (3.58%), 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.
Is Bayer AG (ADR) stock A Buy?
Bayer AG (ADR) holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.626 Hold/Accumulate Downgraded
Predicted Opening Price for Bayer AG (ADR) of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $7.81 ( 0.255%) | $7.83 |
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 | 7.89 | 0.766 % | |
| R2 | 7.86 | 0.376 % | ||
| R1 | 7.84 | 0.135 % | ||
| Current price: | 7.83 | |||
| Support | S1 | 7.78 | -0.646 % | |
| S2 | 7.76 | -0.89 % | ||
| S3 | 7.73 | -1.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.97 | 1.79 % | |
| R2 | 7.91 | 1.02 % | ||
| R1 | 7.88 | 0.639 % | ||
| Current price | 7.83 | |||
| Support | S1 | 7.55 | -3.58% | |
| S2 | 7.30 | -6.77% | ||
| S3 | 6.99 | -10.72% |
BAYRY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | Apr 29, 2024 | May 13, 2024 | $0.0191 | 0.241% |
| 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
Click here for our free guide on how to buy Bayer AG (ADR) Stock.
