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May 13, 2023
Yesterday at a glance: an influx of sellers pushed the kidney dialysis specialist to session lows around $23.49 while establishing a $23.49 to $23.86 session range yesterday.
Amid the market gloom, United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 216,600, while the previous figure was 214,800. United States CFTC Gold speculative net positions came out at 195,800. Fresh CFTC Nasdaq 100 speculative net positions data from United States came out at 21,400.
Fresenius Medical Care AG & Co. KGaA made an initial break below its 10 day Simple Moving Average at $23.68, a possible indication of a forthcoming negative trend. In contrast, Fresenius Medical Care could begin to recover as it approaches significant support, now 13 cents away from $23.38. Dipping below could be an indication that further losses are ahead.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting Fresenius Medical Care to extend its recent losses.
Fresenius Medical Care was not the only decliner in the health care sector; Bristol-Myers Squibb Company lost 1.48% yesterday and closed at $68.06. Thermo Fisher Scientific closed at $524.65 (down 0.97%).
On the other hand, positive performances could be seen by looking at other health care stocks as Novo Nordisk traded at $171.27 after closing yesterday's trading day at $169 (up 1.35%).
The US-German healthcare company has gained 44.96% since its lowest print of $12.81 earlier this year.
