Bayer AG (ADR) Stock Forecast
Bayer AG (ADR) stock upgraded to Hold/Accumulate.
(Updated on Mar 27, 2024)
The Bayer AG (ADR) stock price gained 4.07% on the last trading day (Wednesday, 27th Mar 2024), rising from $7.37 to $7.67. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 2.05% from a day low at $7.56 to a day high of $7.71. 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 along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $18.31 million.
Given the current short-term trend, the stock is expected to fall -25.84% during the next 3 months and, with a 90% probability hold a price between $4.99 and $5.69 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, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $7.26 and $7.46. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 19, 2024, and so far it has risen 9.71%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Bayer AG (ADR) stock
Bayer AG (ADR) finds support from accumulated volume at $7.29 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 $0.155 between high and low, or 2.05%. For the last week, the stock has had daily average volatility of 1.30%.
Since the Bayer AG (ADR) has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: $7.39 (-3.66%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (BAYRY) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Bayer AG (ADR) to open at $7.65, and during the day (based on 14 day Average True Range), to move between $7.50 and $7.84, which gives a possible trading interval of +/-$0.175 (+/-2.28%) up or down from last closing price. If Bayer AG (ADR) takes out the full calculated possible swing range there will be an estimated 4.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.78 (1.43%) than the support at $7.29 (4.95%), 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Bayer AG (ADR) of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$7.65 ( 0.326%) | $7.67 |
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 | 7.80 | 1.69 % | |
R2 | 7.74 | 0.92 % | ||
R1 | 7.70 | 0.446 % | ||
Current price: | 7.67 | |||
Support | S1 | 7.59 | -1.10 % | |
S2 | 7.55 | -1.57 % | ||
S3 | 7.49 | -2.35 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 8.16 | 6.39 % | |
R2 | 7.83 | 2.09 % | ||
R1 | 7.78 | 1.43 % | ||
Current price | 7.67 | |||
Support | S1 | 7.29 | -4.95% | |
S2 | 7.20 | -6.13% | ||
S3 | 6.99 | -8.85% |
BAYRY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Aug 01, 2023 | May 02, 2023 | May 15, 2023 | $0.632 | 4.33% |
2 | May 02, 2022 | May 02, 2022 | May 16, 2022 | $0.549 | 3.33% |
3 | Apr 28, 2021 | Apr 28, 2021 | Apr 28, 2021 | $0.594 | 3.65% |
4 | Apr 29, 2020 | Apr 29, 2020 | Apr 29, 2020 | $0.769 | 4.60% |
5 | Apr 29, 2019 | Apr 29, 2019 | Apr 29, 2019 | $0.789 | 4.70% |
FAQ
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