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May 04, 2023
Fresenius Medical Care is down to $23.35, after ending yesterday at $23.62. Overall, a 1.14% loss or 27 cents today.
Initial Jobless Claims in United States fell short of market expectations (240,000) with a reading of 242,000, continuing the decline from the previous figure of 229,000. United States Crude Oil Inventories released earlier showed a marked improvement to -1.28 million from the preceding data of -5 million, but fell short of the -1.1 million figure forecast by a consensus of market analysts.
While price action maintains a negative bias, United States Interest Rate came out at 5.25, while a consensus of analysts was expecting 5.25.
The MACD index is indicating that momentum is shifting from bullish to bearish following a negative crossover. When the MACD falls below the signal line, it is typically considered to be a bearish development favoring short positions. On the other hand, note that Fresenius Medical Care could begin to recover as it approaches significant support, now 17 cents away from $23.18. Dipping below could be an indication that further losses are ahead.
In the short term, Fresenius Medical Care is expected to maintain its recent downtrend and continue spiralling lower.
Fresenius Medical Care's stock value drop coincides with after closing the previous session (yesterday) at $167.77, Novo Nordisk lost $6.77 and is trading around $161. After closing the previous session (yesterday) at $90.69, Medtronic lost $1.29 and is trading around $89.4. Pfizer is down to $38.04, losing 1.07%, after ending yesterday at $38.45.
Looking ahead, ongoing depreciation may be prolonged as United States Non Farm Payrolls projected to decline to 180,000 while previous data was 236,000; data will be released tomorrow at 12:30 UTC. United States Unemployment Rate expected to decline to 3.6 while its preceding data was 3.5, data will be available tomorrow at 12:30 UTC.
The kidney dialysis specialist has gained 46.62% since its lowest print of $12.81 earlier this year.
