Sanofi shares have been plummeting because of lowering net income, disappointing return on equity and performance in the stock itself.
However, market was overreacting and short-term bullish reversal ought to be considered.
Despite the undeniable bearish momentum, the €63.50 support is a mayor player in Sanofi. It is likely that a rebound towards at least the €68 zone occurs during the next weeks. A second likely bullish target is €71.95.
Good luck fellow traders
