Friday's slide leaves Fresenius Medical Care traders hoping for a bounce

Friday at a glance: the US-German healthcare company hovered around the $22.86 level after closing Thursday at $23.25 and shedding 1.68%, as it reached reached Friday's session close.

Fresenius Medical Care AG & Co. KGaA could begin to recover as it approaches significant support, now 15 cents away from $22.71. Dipping below could be an indication that further losses are ahead. Despite being in the red so far in the current trading session, Fresenius Medical Care peaked above its 3 day Simple Moving Average around $22.77 — typically an early indicator of a new bullish trend beginning to emerge.

Despite suffering losses in today's session, technical analysis is indicating that Fresenius Medical Care will undergo a significant bounce in the immediate term.

Fresenius Medical Care hit a significant low of $12.81 around 8 months ago, but has since recovered 81.5%.