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June 20, 2023
Fresenius Medical Care is down to $23.45, after ending yesterday at $23.57. Overall, a 0.53% loss or 12.5 cents today.
While price action maintains a negative bias, United States Building Permits (May) came out at 1.49 million, while a consensus of analysts was expecting 1.43 million. United States Housing Starts beat analyst expectations of -0.8% and the previous reading of -2.9% with new data of 21.7%. United States Housing Starts (May) released today at 12:30 UTC with a figure of 1.63 million, while the previous figure was 1.34 million.
Fresenius Medical Care AG & Co. KGaA's upper Bollinger Band® is at $23.98 which indicates a further downward move may follow. Despite this, Fresenius Medical Care could begin to recover as it approaches significant support, now 13 cents away from $23.44. Dipping below could be an indication that further losses are ahead.
Following today's unexpected losses, extensive multifactorial technical analysis forecasts Fresenius Medical Care to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the the US-German healthcare company is expected to attract significant bearish sentiment in the coming days.
Fresenius Medical Care's stock value drop coincides with after closing the previous session (yesterday) at $537.3, Thermo Fisher Scientific lost $17.07 and is trading around $520.23. Pfizer is down to $39.48, losing 1.45%, after ending yesterday at $40.06.
Positive performances can be seen by looking at other health care stocks as Sanofi is trading at $53.41 after ending yesterday's session at $52.04 (up 2.64%).
Furthermore, United States Fed Chair Powell testimony scheduled to come out tomorrow at 14:00 UTC. United States Fed Governor Jefferson testimony will be released tomorrow at 14:00 UTC.
The kidney dialysis specialist now trading 21.24% above its 3-month low of $12.81.
