GBL BAYER

GBL has clearly underperformed the market over the last few months but is a long- term outperformer.
If you look at the relative chart (black line), you can see a breakout above a downtrend resistance line in the beginning of March;
meaning that the stock is recently showing strenght versus the market.

Bayer recently rebounds on the confluence of 2 supports zones (red and black line).This bounce is a buying opportunity because: 1 the stock was oversold
2 the Macd is close to give a buy signal and 3 the long term pattern is still bullish, showing higher highs and higher lows.