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May 15, 2023
Friday at a glance: an influx of sellers pushed the US-German healthcare company to end the session lower around $23.51, while establishing a $23.49 to $23.86 session range Friday.
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.
In the short term, Fresenius Medical Care is expected to maintain its recent downtrend and continue spiralling lower.
Fresenius Medical Care was not the only decliner in the health care sector; Bristol-Myers Squibb Company closed at $68.06 (down 1.48%). Thermo Fisher Scientific went down to $524.65, losing 0.97% after it closed at $529.79 Friday.
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 Friday's trading day at $169 (up 1.35%).
Some optimism can drawn from the fact that United States Retail Sales is projected to outperform its last figure with 0.7%, having previously been at -0.6%. The figure will be published tomorrow at 12:30 UTC. United States Core Retail Sales is projected to outperform its last figure with 0.4%. It previously stood at -0.4%; data will be released tomorrow at 12:30 UTC.
This year has been a bright one for the kidney dialysis specialist after trading as low as $12.81 and going on to appreciate by 44.96% year to date.
