An own build index for long term investment on European stocks. Lets see if this log(Channel) holds.
Chemistry-Pharma:
1/12 Bayer
1/12 BASF
Semiconductior:
1/12 Melexis
1/12 BE Semiconductor
Environmental-Chemistry:
1/12 Umicore
2/12 Veolia
Brewery Chain:
1/12 AB Inbev
Steel/metal industry:
1/12 Aperam
Index ETF:
3/12 Amundi CAC40 ETF (C4D)
Input...
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...
After weeks of price dumps the Bayer AG chart is first time near real support zones (between 57 - 63) which I already analyzed in my first Bayer AG analysis from August 17.
If the next weekly candle is green we can expect the start of a recovery run because Bayer is now fair valued.
But don't forget that further legal proceedings are open and could still be...
After bottoming out at € 70, the current chart looks like a head and shoulder formation. RSI and MACD still have room to grow. I expect further price increases up to about 84 € until a first correction begins, then it will show whether the H & S formation holds or a new low for 2018 will be marked.
