Bullish phase under threat as Fresenius Medical Care stays range-bound

In the midst of a 3 day bullish trend, Today's session might suggest a slow down — from an earlier low of $21.77, the US-German healthcare company is on track to end the session around $21.87 after gaining 4 cents compared to last trading session's $21.83 (0.18%).

Fresenius Medical Care is currently trading at $21.87 following the release of ISM Non-Manufacturing PMI (May) data from the United States.

This uncertain state for Fresenius Medical Care is reflected by published market data as United States ISM Non-Manufacturing PMI (May) came out at 50.3, while a consensus of analysts was expecting 51.8. United States Services PMI released today at 13:45 UTC with a figure of 54.9, while the previous figure was 53.6. Following a previous reading of 0.6%, Factory Orders in United States released today at 14:00 UTC fell short of the 1.1% figure expected by analysts with an actual reading of 0.4%.

Following today's trading session, chart analysis suggests Fresenius Medical Care AG & Co. KGaA is approaching key support, around 13 cents away from $21.74. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.

Meanwhile, mixed performances are seen in other health care stocks as Amgen is up 1.7%. Johnson & Johnson is trading at $158.08 after ending Friday's session at $156.97 (up 0.71%).

Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States EIA Short-Term Energy Outlook is scheduled for tomorrow at 16:00 UTC.

Fresenius Medical Care hit a significant low of $12.81 around 7 months ago, but has since recovered 70.41%.