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June 27, 2023
A quick look at yesterday: in yesterday's bearish session, the US-German healthcare company shed around 1.36% in quick fashion, found support around the $23.94 level and finally closed at $23.97. In contrast, the day's events followed Friday's session in which the stock closed at $24.3.
United States Building Permits is next today at 12:00 UTC.
Meanwhile, United States 2-Year Note Auction released yesterday at 17:00 UTC with a figure of 4.67, while the previous figure was 4.3.
Technical analysis shows that Fresenius Medical Care AG & Co. KGaA could begin to recover as it approaches significant support, now 12 cents away from $23.85. Dipping below could be an indication that further losses are ahead. After descending below strong Fibonacci support at $24.22, market bears have earmarked $23.3 as the next downside target.
Fresenius Medical Care was not the only decliner in the health care sector; Pfizer drops 3.68% yesterday to close at $38.3. Johnson & Johnson closed at $163.63 (down 1.12%). Novartis went down to $99.51, losing 1.17% after it closed at $100.69 yesterday.
Moreover, United States Crude Oil Inventories is projected to outperform its last figure with 1.42 million. It previously stood at -3.83 million; data will be released tomorrow at 14:30 UTC. United States Core Durable Goods Orders is projected to outperform its last figure with -0.1%. It previously stood at -0.2%; data will be released today at 12:30 UTC.
Furthermore, United States Building Permits scheduled to come out today at 12:00 UTC.
The kidney dialysis specialist has appreciated 50.09% over the past six months.
