DavidBelleFX
Long

Bayer stock facing upside pressure

FWB:BAYN   BAYER AG NA O.N
177 views
8
Bayer have just taken over Monsanto. This is huge as it brings together two of the biggest pharmaceutical firms globally. Looking technically, I can see some severe upside where investors look to pile into this now global powerhouse (takeover valued at $68bn). I would expect a rally to $112 based off of current market structure and the bullish harami pattern. I would also like to see end of week volumes finish extremely high.

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