A quick look at Friday: in Friday's bearish session, the kidney dialysis specialist shed around 1.46% in quick fashion, found support around the $15.41 level and finally closed at $15.57. In contrast, the day's events followed Thursday's session in which the stock closed at $15.8.
Fresenius Medical Care AG & Co. KGaA made an initial break below its 21 day Simple Moving Average at $15.64, a possible indication of a forthcoming negative trend. Despite this, Fresenius Medical Care could begin to recover as it approaches significant support, now 15 cents away from $15.42. Dipping below could be an indication that further losses are ahead.
Several technical indicators are adding weight to the bearish momentum seen Friday and forecasting Fresenius Medical Care to extend its recent losses.
Fresenius Medical Care was not the only decliner in the health care sector; Pfizer lost 4.12% Friday and closed at $51.4. Thermo Fisher Scientific went down to $536.44, losing 3.13% after it closed at $553.79 Friday. Astrazeneca PLC went down 2.58%, closed at $69.74.
Furthermore, United States Building Permits (Nov) is scheduled for tomorrow at 13:30 UTC.
Over the past 10 months, the US-German healthcare company has retreated 54.65% from a noteworthy peak of $34.84.