Offshore Trade Alert: Credit Suisse Group and Bayer AG

by / / Trade Ideas

Credit Suisse Group AG (CSGN)

Credit Suisse is a financial services company. The Company’s segments include Swiss Universal Bank, International Wealth Management, Asia Pacific, Global Markets, Investment Banking & Capital Markets, Strategic Resolution Unit and Corporate Center.

Market Cap: CHF46bn

Commentary: CSGN is a share we previously recommended as a buy/long at CHF15.29. The price has advanced to trade near the weekly downward trend line resistance where we also see the candle structure developing a bearish engulfing candle for the week as global markets continue to weaken.

I’m looking at a short term opportunity for sell/short as the share reverses at resistance.

These are the trade levels:

Sell/short CSGN CHF18.00/CHF18.40
Stop-loss: CHF20.00
Take profit: CHF16.70

Bayer AG

Bayer AG is a life science company. The Company’s segments are Pharmaceuticals, Consumer Health, Animal Health and Covestro.

Market Cap: €87bn

Commentary: The share has recently broken out of a falling channel that had been in place since mid-October 2017. Over the last five trading sessions we have seen the price retreat toward the breakout level. Although somewhat early to the call, the 50-day is starting to lose downside momentum, signaling a potential bullish reversal.

These are the trade levels:

Buy/long Bayer AG at €105/106
Stop-loss: €100
Take profit: €115/118 (medium term)

Lester Davids

Lester Davids

Trading Desk Analyst at Unum Capital
Lester joined Unum Capital in July 2016 and is a Trading Desk Analyst focusing on local (JSE) and global multi-asset class technical analysis research which includes idea generation.
Lester Davids