A quick look at yesterday: the kidney dialysis specialist dropped 1.52% early on and traded close to the $14.86 level.
Amid the market gloom, United States API Weekly Crude Oil Stock came out at -4.8 million, while a consensus of analysts was expecting -2.2 million. United States 7-Year Note Auction released yesterday at 18:00 UTC with a figure of 3.89, while the previous figure was 4.027.
Fresenius Medical Care AG & Co. KGaA made an initial break below its 10 day Simple Moving Average at $15, a possible indication of a forthcoming negative trend. Bearish sentiment was sufficient to push prices below the known Fib level of $15.08 serving as intraday support. In contrast, Fresenius Medical Care could begin to recover as it approaches significant support, now 14 cents away from $15. Dipping below could be an indication that further losses are ahead.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting Fresenius Medical Care to extend its recent losses.
Fresenius Medical Care was not the only decliner in the health care sector; Medtronic crashes 5.3% yesterday to close at $82.29.
On the other hand, positive performances could be seen by looking at other health care stocks as Pfizer traded at $49.08 after closing yesterday's trading day at $48.18 (up 1.87%). AbbVie gained 1.71%, as it traded at $159.79.
In addition, United States Core Durable Goods Orders is projected to outperform its last figure with 0.1%. It previously stood at -0.5%; data will be released today at 13:30 UTC. United States Crude Oil Inventories is projected to outperform its last figure with -1 million. It previously stood at -5.4 million; data will be released today at 15:30 UTC.
Furthermore, United States New Home Sales (Oct) is expected today at 15:00 UTC.
The US-German healthcare company has shed 49.48% over the past six months.