Yesterday at a glance: after closing the previous trading day at $14.2 and dropping to $13.42, Fresenius Medical Care closed yesterday at $13.85. By the end of the session, Fresenius Medical Care gave up a total of 2.46%.
Non Farm Payrolls data from United States will be released today at 12:30 UTC with analysts expecting a decline to 200,000. Potentially significant price fluctuations in Fresenius Medical Care are expected to follow.
This down-slide takes place despite the positive US macroeconomics indicators data that was published earlier — United States Initial Jobless Claims beat analyst expectations of 220,000 and the previous reading of 218,000 with new data of 217,000.
While price action maintains a negative bias, United States ISM Non-Manufacturing PMI (Oct) came out at 54.4, while a consensus of analysts was expecting 55.5. New Factory Orders data from United States matched market expectations with a reading of 0.3% — a positive step in contrast to previous data of 0.2% from last month.
Although Fresenius Medical Care AG & Co. KGaA is down today and was as low as $13.42, it seems to be recovering slightly and climbing away from the $13.27 support line and is now 58 cents above it. Despite being in the red so far in the current trading session, Fresenius Medical Care peaked above its 21 day Simple Moving Average around $13.64 — typically an early indicator of a new bullish trend beginning to emerge.
Overall, looking at the technical analysis landscape, it seems Fresenius Medical Care might start pointing upward in the short term.
Fresenius Medical Care was not the only decliner in the health care sector; Medtronic falls 2.05% yesterday to close at $85.78.
On the other hand, positive performances could be seen by looking at other health care stocks as Anthem traded at $482.58 after closing yesterday's trading day at $469.87 (up 2.71%). Eli Lilly and Company added 1.89% to its value, and traded at $361.68.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as United States Non Farm Payrolls projected to come out at 200,000 — worse than previous data of 263,000; data will be released today at 12:30 UTC. United States Unemployment Rate expected to decline to 3.6 while its preceding data was 3.5, data will be available today at 12:30 UTC.
Fresenius Medical Care traded as high as $35.49 before shedding 55.61% lower over the past six months.