Fresenius Medical Care currently down 2.49% halfway through today

The kidney dialysis specialist drops 2.49% in early trade and remains within touching distance of the $22.11 level.

United States's Crude Oil Inventories new data released of -12.46 million below its previous figure.

Highly important Crude Oil Inventories data from United States beat analyst expectations of -920,000 with a reading of -12.46 million.

While price action maintains a negative bias, United States New Home Sales (Apr) released yesterday at 14:00 UTC with a figure of 683,000, while the previous figure was 656,000. United States Services PMI came out at 55.1, while a consensus of analysts was expecting 52.6.

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. A crossing of the lower Bollinger Band® at $22.35 suggests further losses may follow for Fresenius Medical Care.

Looking forward, Fresenius Medical Care is poised to extend its strong downtrend and continue declining.

In the meantime, negative performances are also seen in other health care stocks as after closing the previous session (yesterday) at $525.1, Thermo Fisher Scientific lost $17.6 and is trading around $507.5. After closing the previous session (yesterday) at $74.07, Astrazeneca PLC lost $1.25 and is trading around $72.82. Pfizer is down 1.14% from the beginning of the session and now trades around $39.19.

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as tomorrow at 12:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 250,000 from the preceding figure of 242,000.

Some optimism can drawn from the fact that United States Pending Home Sales is projected to outperform its last figure with 0.5%, having previously been at -5.2%. The figure will be published tomorrow at 14:00 UTC.

Furthermore, United States GDP is expected tomorrow at 12:30 UTC.

The US-German healthcare company has gained 40.78% since its lowest print of $12.81 earlier this year.