| 
April 17, 2023
A quick look at Friday: an influx of buyers helped the kidney dialysis specialist to end the session higher around $23.26, while establishing a $23.09 to $23.58 session range Friday.
Chart analysis indicates Fresenius Medical Care AG & Co. KGaA could be slowing down soon; it is getting close to the resistance line and is now at $23.8, only 54 cents away. Crossing the resistance line could, however, suggest that further gains are ahead. Trend and momentum analysis indicates that investors are seeking long positions as Fresenius Medical Care price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. According to momentum evaluation, the Relative Strength Index indicates Fresenius Medical Care is currently 'overbought' which suggests new gains will be harder to obtain. Analysis based on the asset volatility indicates that Bollinger Band® analysis indicates that current price action is approaching the upper band at $23.49, thereby suggesting that Fresenius Medical Care is becoming overvalued.
Notwithstanding Fresenius Medical Care's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
While Fresenius Medical Care was bullish Friday, the following health care stocks underperformed: UnitedHealth closed at $511.79 (down 2.74%). Astrazeneca PLC lost 1.22% Friday and closed at $73.86. Medtronic closed at $80.71 (down 1.08%).
Furthermore, the market is looking at United States Building Permits (Mar) scheduled to come out tomorrow at 12:30 UTC.
The stock has been trending positively for about a month. This year has been a bright one for the kidney dialysis specialist after trading as low as $12.81 and going on to appreciate by 46.25% year to date.
