Overview

FME.DE finished Monday at 82.56 losing €0.28 (-0.34%). Trading €0.84 higher after the open, FreseniusMed was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range. Ending with a weak close near the low of the day sets a bearish note for the next session.

Volatility

Monday's trading range was €1.40 (1.69%), that's slightly below last trading month's daily average range of €1.43. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way below average. Prices continued to consolidate within a tight trading range between 81.70 and 83.98 which it has been in now for the last trading week.

Price Action

In a volatile session, prices traded above the previous day's high as well as below the prior day's low, forming a bearish Outside Bar.

Support/Resistance

Unable to break through the key technical resistance level at 83.18, the market closed below it after spiking as high as 83.86 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward. After having been unable to move lower than 82.48 in the previous session, the share found buyers again around the same price level today at 82.46. After spiking up to 83.86 during the day, the stock found resistance at the 200-day moving average at 83.83.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Order Flow

Buying could accelerate should prices move above the close-by swing high at 84.14 where further buy stops might get activated. Selling could speed up should prices move below the nearby swing low at 81.70 where further sell stops might get triggered. As prices are trading close to April's low at 80.64, downside momentum could accelerate should FME.DE mark new lows for the month.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.