Fresenius Medical Care closes at $19.58 after gaining 3.38%

A quick look at Friday: the US-German healthcare company closed Thursday at $18.94. Friday, it gained 3.38% and remained around $19.58.

Fresenius Medical Care AG & Co. KGaA made an initial breakout above its 5 day Simple Moving Average at $19.5, a potential indicator of a newly emerging bullish phase. On the other hand, note that Fresenius Medical Care could be slowing down soon; it is getting close to the resistance line and is now at $19.71, only 13 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.

Overall, looking at the technical analysis landscape, it seems Fresenius Medical Care might continue pointing upwards in the short term.

This rally in Fresenius Medical Care's share price coincided with other health care stocks as Stryker added 3.6% to its value, and traded at $271.53. Abbott Laboratories traded at $104.45 after closing Friday's trading day at $102.63 (up 1.77%). Thermo Fisher Scientific gained 1.95%, as it traded at $559.44.

This year has been a bright one for the US-German healthcare company after trading as low as $12.81 and going on to appreciate by 22.43% year to date.