Bayer (BAYN): End of a long 9-year correction
Updated
Bayer (BAYN): 
BAYN
Upon request from one of our members, we're taking a closer look at Bayer AG. We believe that we are still in an overarching Wave II. This wave finds its last true support at the 88.2% retracement level at €24.51. Falling significantly below this level would likely lead us to see a 100% retracement down to €8.48, which would be severe for a company like Bayer, considering its all-time high was at €144. Observing the chart on a 2-day basis, we note that the Wave 5 extension falls into the zone between 50% and 61.8%, which also includes the 88.2% level. This truly is the last turning point Bayer might have.
BAYN Upon request from one of our members, we're taking a closer look at Bayer AG. We believe that we are still in an overarching Wave II. This wave finds its last true support at the 88.2% retracement level at €24.51. Falling significantly below this level would likely lead us to see a 100% retracement down to €8.48, which would be severe for a company like Bayer, considering its all-time high was at €144. Observing the chart on a 2-day basis, we note that the Wave 5 extension falls into the zone between 50% and 61.8%, which also includes the 88.2% level. This truly is the last turning point Bayer might have.
Note
We have just published an update on our Bayer analysis:
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