Trading Idea: Trading Idea Bayer: Course towards an open gap | message

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Analysis

The shares are currently trading at EUR 49.00, slightly below the resistance of EUR 50.00. The upward trend is clearly intact with rising highs and lows. As before, downward corrections should expire around the 10-EMA. As long as stocks can defend the 10-EMA area, further rising prices can be expected in the short term.

The starting target of the current upward movement should be the still open gap at 52.85 euros. Gaps are usually closed again and this big gap from October 1st shouldn’t stay open for long with a heavyweight like Bayer.

Conclusion:

Traders could consider a long position around the 10-EMA and speculate on a further run-up of Bayer shares to the still open gap. An Open End Turbo Warrant from DZ Bank (DDL72S) on Bayer in the 10-EMA range is ideal. The price target can be seen at the upper open gap at EUR 52.85. The stop could be placed just below the low at EUR 46.00.

Underlying: Bayer (ISIN: DE000BAY0017)
Product type: Open End Turbo Warrant
Issuer: DZ Bank
ISIN / WKN Hebel product: DE000DDL72S1 / DDL72S
Duration: Open End
Course K.-o.-Call (Date): 1.94 / 1.95 (27.11.2020, 09:52 o’clock)
Base price variable: 29.98
Knock-out threshold: 29.98
Leverage: 2.60
Distance to knock-out: 38.86%
Stopp-Loss Long: 1,60
Target call: 2.29 (+ 17.84%)

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