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May 17, 2023
While on a 6 day downtrend A slight improvement can be seen from today's session: a mostly flat day so far for the kidney dialysis specialist, range-bound between $23.07 and $23.27 and currently at $23.18.
New United States Crude Oil Inventories improved upon the previous 2.95 million figure while also exceeding analyst expectations with a reading of 5 million.
Uncertainty around Fresenius Medical Care is reflected by published market data as United States Crude Oil Inventories beat the -920,000 projections, with 5 million. United States Building Permits (Apr) came out at 1.42 million, while a consensus of analysts was expecting 1.44 million. United States Retail Sales released earlier showed a marked improvement to 0.4% from the preceding data of -0.7%, but fell short of the 0.8% figure forecast by a consensus of market analysts.
Fresenius Medical Care AG & Co. KGaA's upper Bollinger Band® is at $24.35 and the lower is $22.69. Fresenius Medical Care is oscillating around the $23.08 level serving as support.
Despite muted price action in Fresenius Medical Care, chart analysis indicates it is positioned for a bullish run in the short term.
Meanwhile, mixed performances were seen by other health care stocks as Novartis went down 1.55%, closed at $102.81. Sanofi descends 1.58% today to close at $54.55.
Data to be released tomorrow might clear up some of the market fog as United States Philadelphia Fed Manufacturing Index (May) is scheduled for tomorrow at 12:30 UTC. United States Initial Jobless Claims is projected to outperform its last figure with 254,000. It previously stood at 264,000; data will be released tomorrow at 12:30 UTC. United States Existing Home Sales (Apr) will be released tomorrow at 14:00 UTC.
The US-German healthcare company has gained 43.91% since its lowest print of $12.81 earlier this year.
