Bayer AG - in free fall after US judgement

Today I am analyzing one of the leading Dax30 companies, Bayer ag. After a US court has found Monsanto guilty (2 of its weed killers are said to be producing cancer by containing glyphosate) and has distributed a fine of over $ 250 million, the course is in free fall. There have already been 2 rebounds from the Fibonacci retracement zones, however, the price will be corrected further in the direction of 55-58 €. More court decisions will follow, increasing the burden on the company. Reserves for this case have not yet been formed, which is why the annual result should be significantly weakened. However, Bayer is a very well-performing group that is very well positioned, and the acquisition of Monsanto has long been the first real mistake of the management (in my opinion). In the long run, the stock will rise again because medicine and pharam articles are always sold. I think a long term entry from 60 € downwards is very safe. RSI and MACD are already looking bullish but the free fall is still not finished.

Trade closed: target reached