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Fresenius SE (FSNUF) reported fourth quarter and full year results for 2019 on Feb. 20. And in a first reaction, the stock could reach its highs around €52 again, which have been the resistance level for Fresenius SE for about a year. In April and December 2019, the stock already tried to climb higher, but failed. And now, the stock failed for a third time and is now trading rather close to its multi-year lows of €40. But the reason for this 20% decline were not the results of Fresenius, but rather the