Bayer Share: Next Hurdle 50.0% Retracement
Finally, another hurdle was reached. This is the 50.0% retracement at EUR 56.78. The first attempt to break out failed a week ago. Bayer shares had to withdraw.
A few days ago, the bottom of the aforementioned downward gap at EUR 48.51 prevented the prices from plummeting.
There was also backing from the increasing exponential 13-, 21-, 34- and 55-day lines at EUR 53.82 / 51.35.
For a continuation of the upward movement, the 50.0% fibonacci level should be broken significantly. Only then would the important 61.8% retracement at EUR 60.76 be the next target. Above this level there would then be the probability that the starting point of the underlying downward movement at EUR 73.63 by the end of June 2020 would be possible.
We are currently experiencing increased volatility in certain stocks, including GameStop and AMC. This increases the risk of sudden, large, or rapid losses as well as potential gaps where stock prices drop dramatically when the market opens. We may increase our margin rates, also in the short term and up to 100%. Please note that IG does not offer options on GameStop or AMC Entertainment, nor does it offer any short sale of these stocks.