Fresenius Medical Care closed at $21.58 (down 1.15%) and added one more to its 6th straight day of losses

A quick look at Friday: the US-German healthcare company dropped 1.15% early on and traded close to the $21.58 level.

A study of Fresenius Medical Care's chart reveals various key levels to watch: Fresenius Medical Care AG & Co. KGaA bounced after reaching the $21.47 support zone, climbing 11 cents above it. Trend-focused traders would be interested to note that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to asset volatility analysis, Fresenius Medical Care's lower Bollinger Band® is at $21.55, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.

All in all, the technical analysis suggests Fresenius Medical Care has no clear-cut direction.

Fresenius Medical Care was not the only decliner in the health care sector; Medtronic lost 2.49% Friday and closed at $81.46. Bristol-Myers Squibb Company lost 1.15% Friday and closed at $63.82. Merck went down 1.1%, closed at $112.3.

Fresenius Medical Care hit a significant low of $12.81 around 7 months ago, but has since recovered 70.41%.