2017-07-09 - Bayer - Go Short
I suggest to go short and take profit at one of the support levels.
PRO:
1) Lots of volume on a bearish bar, it feels like the beginning of a mark down phase.
AGAINST:
1) The price gapped up twice before, so there may be strong support
2) I see alteast 3 support levels (the purple lines) (if all 3 of them get broken you can go short long time)
3) The price may bounce up again as soon as it hits the SMA200 (Dark Brown line)
PRO:
1) Lots of volume on a bearish bar, it feels like the beginning of a mark down phase.
AGAINST:
1) The price gapped up twice before, so there may be strong support
2) I see alteast 3 support levels (the purple lines) (if all 3 of them get broken you can go short long time)
3) The price may bounce up again as soon as it hits the SMA200 (Dark Brown line)
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