Bottom up with clear upside momentum

BAYN Bayer is looking at a possible rebound after the stock rose strongly and attempting to break above the bearish gap seen.

Ichimoku is showing a strong bullish signal and we believe near-term should see further upside.

Long-term MACD is back to the positive. Stochastic confirms the bullish momentum and has yet to see overbought signal yet. 23-period ROC is above the zero line and volume is healthy.

Key support is 20,615