Enduring a bearish run, Fresenius Medical Care closed at $23.18 to complete today's session

Fresenius Medical Care is on a 7 day downtrend With a marginal improvement upon today's session, a mostly flat day so far for the kidney dialysis specialist, range-bound between $22.97 and $23.33 and currently at $23.18.

Fresenius Medical Care is currently trading at $23.18 following the release of EIA Short-Term Energy Outlook data from the United States.

This uncertain state for Fresenius Medical Care is reflected by published market data as United States API Weekly Crude Oil Stock released today at 20:30 UTC with a figure of 3.62 million, while the previous figure was -3.94 million. United States 3-Year Note Auction released today at 17:00 UTC with a figure of 3.695, while the previous figure was 3.81.

Fresenius Medical Care AG & Co. KGaA made an initial break below its 3 day Simple Moving Average at $23.26, a possible indication of a forthcoming negative trend. Despite this, Fresenius Medical Care is approaching key support, around 36 cents away from $22.82. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.

Despite the market lacking direction, technical chart analysis strongly suggests Fresenius Medical Care is positioned for a downward move in the near term.

Meanwhile, mixed performances were seen by other health care stocks as Stryker went down 1.6%, closed at $288.27. Thermo Fisher Scientific closed at $534.66 (down 1.46%).

Data to be released tomorrow might clear up some of the market fog as United States Consumer Price Index figure is projected at 0.4%. It previously stood at 0.1%; data will be released tomorrow at 12:30 UTC. Tomorrow at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to -1.6 million from the preceding figure of -1.28 million. United States Core Consumer Prices figure is projected at 0.4%. It previously stood at 0.4%; data will be released tomorrow at 12:30 UTC.

The kidney dialysis specialist has gained 44% since its lowest print of $12.81 earlier this year.