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June 09, 2023
As the current session draws to a close, the kidney dialysis specialist remains in the $22.7 – $22.95 range after closing yesterday at $23.25 and dropping by 1.74%.
Initial Jobless Claims in United States fell short of market expectations (235,000) with a reading of 261,000, continuing the decline from the previous figure of 233,000.
Amid the market gloom, United States U.S. Baker Hughes Oil Rig Count released today at 17:00 UTC with a figure of 556, while the previous figure was 555. United States U.S. Baker Hughes Total Rig Count released today at 17:00 UTC with a figure of 695, while the previous figure was 696.
Fresenius Medical Care AG & Co. KGaA could begin to recover as it approaches significant support, now 38 cents away from $22.46. Dipping below could be an indication that further losses are ahead. Despite being in the red so far in the current trading session, Fresenius Medical Care peaked above its 3 day Simple Moving Average around $22.77 — typically an early indicator of a new bullish trend beginning to emerge.
Overall, looking at the technical analysis landscape, it seems Fresenius Medical Care might start pointing upward in the short term.
Positive performances can be seen by looking at other health care stocks as Stryker is up 1.47%. Abbott Laboratories is trading at $101.74 after ending yesterday's session at $100.78 (up 0.95%). Medtronic gained 0.88%, currently at $83.83.
The kidney dialysis specialist now trading 21.47% above its 3-month low of $12.81.
