Bayer AG attempts a multi year bearish trend line break
On daily time frame (left panel) the Ichimoku setup has turned absolutely Bullish. What's more, on back of another better than expected earnings reported today, the price action gave a buy signal and price started to attack a very long term trend line.
Funadmenytally all bad news had been discounted into price including Monsanto story, provisionings, etc., meanwhile the company has been delivering better results, beating analyst forecasts.
Looking at the weekly it has some more job to do technically, but once it establishes a long term uptrend, it will give us an extremely great upside.
From now on the recommendation is accumulate, and hold.
Funadmenytally all bad news had been discounted into price including Monsanto story, provisionings, etc., meanwhile the company has been delivering better results, beating analyst forecasts.
Looking at the weekly it has some more job to do technically, but once it establishes a long term uptrend, it will give us an extremely great upside.
From now on the recommendation is accumulate, and hold.