Bayer shares on track: hope for trend reversal after 3.9% price increase!

Bayer shares rose 3.9 percent to take first place in the DAX on Thursday, raising hopes of a possible turnaround at the company. Bayer is considered one of the hottest turnaround candidates in the German leading index after the share price has been on a continuous downward trend in recent years. Investors are speculating that the company, which was once considered a flagship company of the German pharmaceutical and chemical industry, could soon return to the road to success.

The share has been in a sideways trend since February, fluctuating between 25 and 30 euros. During this period, there have been no serious attempts to break the trend either up or down, which is due to the company’s lack of operational turnaround. Nevertheless, technical indicators such as the Relative Strength Index (RSI) and the MACD show a positive development, which indicates possible bullish divergences. These could lead to a sustainable trend reversal in the medium term.