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March 10, 2023
Yesterday at a glance: pronounced bearish sentiment in the market pushed the kidney dialysis specialist into a notable 1.1% slide yesterday, falling 21 cents and ultimately closing at $18.93.
Non Farm Payrolls data from United States will be released today at 13:30 UTC with analysts expecting a decline to 205,000. Potentially significant price fluctuations in Fresenius Medical Care are expected to follow.
Highly important Initial Jobless Claims data from United States beat analyst expectations of 195,000 with a reading of 211,000.
Fresenius Medical Care AG & Co. KGaA could begin to recover as it approaches significant support, now 14 cents away from $18.79. Dipping below could be an indication that further losses are ahead. Bollinger Bands® shows an indication of recovery: the lower band is at $18.58, a low enough level to, generally, suggest that Fresenius Medical Care is trading below its fair value.
Overall, looking at the technical analysis landscape, it seems Fresenius Medical Care —which is currently on a downtrend— might reverse course and start pointing upward in the short term.
Fresenius Medical Care was not the only decliner in the health care sector; Pfizer lost 1.65% yesterday and closed at $39.46. Abbott Laboratories lost 1.56% yesterday and closed at $97.85. Johnson & Johnson closed at $151.24 (down 1.12%).
Looking ahead, ongoing depreciation may be prolonged as today at 13:30 UTC data for United States Non Farm Payrolls will be released, with an expected decline to 205,000 from the preceding figure of 517,000.
Furthermore, United States Unemployment Rate is expected today at 13:30 UTC.
The kidney dialysis specialist has fallen back around 44.38% from the significant high of $34.41 set 11 months ago.
