Bayer is again reporting the approval of a product in the USA – this time, however, not from the pharmaceutical sector, but a herbicide. The US environmental agency EPA has granted a new five-year approval for the XtendiMax herbicide with VaporGrip technology, Bayer reported on Wednesday morning. Bayer recently announced the introduction of a new variety of soybeans in the United States which, among other things, should enable farmers to achieve higher crop yields.
“We welcome the science-based review and approval of XtendiMax, which will give our customers access to this important solution again,” said Lisa Safarian, Head of Bayer Crop Science in the USA. “Farmers urgently need weed management options and we pride ourselves on our innovations to help them fight stubborn weeds,” said Safarian.
Bayer’s share price is meanwhile not coming out of the downward trend and with current indications at 41.605 / 41.695 euros is close to the multi-year low, which was only reached on October 22nd at 41.51 euros.
We had recently pointed out that Bayer’s price decline could be even worse than before – especially with the new technical chart sell signals at the Corona crash low at EUR 44.855 and at the older technical chart support zone around EUR 42.57 / 42.81, the Bayers Share price on Friday was also unable to overcome stable again.
So it remains: the next, significantly older support for Bayer shares can only be seen in a broad range around the EUR 40 mark and could be targeted as long as the intact downward trend cannot be quickly broken by the DAX value. At least the two mentioned chart-technical signal marks, now resistance areas for Bayer’s share price, should be overcome. But a fall towards the 35 mark and the range between 33.665 / 33.815 euros and 32.17 / 32.52 euros cannot be ruled out if this does not succeed. Incidentally, the latter brand comes from the time of the subprime crash after the collapse of Lehman Brothers.
At a glance – chart and news: Bayer