Bayer’s pharmaceutical division reports results of a phase 3 clinical trial with copanlisib: The drug, in combination with rituximab, has shown a significant increase in progression-free survival in patients with relapsed indolent non-Hodgkin’s lymphoma. This enabled the drug to reach the primary endpoint of the study, Bayer announced on Wednesday. “The safety and tolerability observed in the study largely agreed with previously published data on the individual components of the combination, and no new safety signals were identified,” reports the DAX-listed company.
Bayer’s share price is still a long way from a good development. Instead, the Leverkusen-based group’s share must continue to struggle to bottom out in the technical chart support zone at 43.870 / 44.855 euros. Bayer stock has not been able to free itself from the zone’s sphere of influence over the past few days; the share is currently trading again within this support zone at a price of EUR 44.790 (+0.09 percent) with a daily range of between EUR 44.655 and EUR 45.020 Euro.
The fact remains: A look at the long-term chart shows potential support very quickly above 42.57 euros in the event of new sell signals, but whether this rather subordinate brand, which is around ten years old, will stop for a new sell signal Bayer shares can donate remains questionable.
It would therefore be safer for the DAX to rise as quickly as possible over obstacles at EUR 47.07 / EUR 47.17 and EUR 48.52 – the lower end of a gap that was opened on October 1 and its upper end at 52.85 Euro can be found. A strong technical resistance zone extends between EUR 51.20 and the upper end of the gap. A jump in Bayer stock over this and confirmatory over further obstacles between 54.65 euros and a zone around 55.90 euros would then be a clearer bullish sign.