Fresenius Medical Care (FME Stock) provides a long-term opportunity

Fresenius Medical Care is a German healthcare company. It is one of the four divisions of Fresenius SE & Co. KGaA. The company provides kidney dialysis services and treats end-stage renal disease. Today, it has a 38% share of the dialysis market in the US. Fresenius Medical Care operates 45 production sites, mainly in the US, Germany, and Japan. Founded in 1996 and headquartered in Bad Homburg vo rder Höhe, Germany, Fresenius Medical Care is a part of the DAX40 index. One can trade it under the ticker $FME at XETRA.

Fresenius Medical Care monthly Elliott Wave analysis 10.18.2021

The monthly chart below shows the Fresenius Medical Care stock $FME traded at XETRA. From all-time lows, the stock price has developed an Elliott wave motive wave pattern. The cycle up in black wave ((I)) being of grand supercycle degree has ended by printing its top at all-time highs in February 2018 at 93.82. Within the grand supercycle ((I)), the blue wave (III) of supercycle degree is an impulse showing an extension as related to the waves (I) and (V).

From the February 2018 high, a consolidation has started and is still in progress. First, a cycle lower in 3 waves has ended in January 2019. Then, from the 55.44 low a rally has failed to make a new high. After 3 waves of blue wave (x) ending in February 2020 at 81.10, $FME has broken below 55.44 low. As a matter of fact, this has opened a bearish sequence. As a consequence, while the price holds below 81.10, one should expect $FME to trade lower into the 42.67-18.87 area.

Investors and traders can buy Fresenius medical care from 42.67-18.87 areas expecting a long-term rally to the new highs. The target in the black wave ((III)) will be towards 136-194 areas in case of reaction from the 42.67 level.