Fresenius Medical Care closes at $23.28 after gaining 1.88%

Yesterday at a glance: bullish sentiment helped the US-German healthcare company to hammer out a noteworthy $23.2 to $23.58 range yesterday, and finally closing at $23.28 to end the session.

United States Building Permits is next today at 13:30 UTC.

With regards to technical trend indicators, chart analysis show that investors are seeking long positions as Fresenius Medical Care AG & Co. KGaA price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. According to asset volatility analysis, Fresenius Medical Care's upper Bollinger Band® is at $23.66, this is a slight indication of a slowdown. Technical analysis of Fresenius Medical Care's past price action reveals multiple support and resistance levels: although Fresenius Medical Care is appreciating today after rising as high as $23.58, price action is now slowing and consolidating around 45 cents below the $23.73 resistance level.

Overall, while Fresenius Medical Care has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

A look at other health care stocks also showed bullish price action as Medtronic added 4.62% to its value, and traded at $89.69.

While Fresenius Medical Care was bullish yesterday, the following health care stocks underperformed: Abbott Laboratories went down to $110.4, losing 1.13% after it closed at $111.66 yesterday. Novo Nordisk closed at $170.48 (down 1.26%).

Yesterday's gains have given market bulls further impetus to expect strong macro data going forward, such as United States Crude Oil Inventories is projected to outperform its last figure with -1.67 million. It previously stood at -4.58 million; data will be released tomorrow at 14:30 UTC.

Also worthy of note, United States Core Durable Goods Orders expected to decline to -0.2% while its preceding data was -0.1%, data will be available tomorrow at 12:30 UTC.

Furthermore, the market is looking at United States Building Permits will be released today at 13:30 UTC.

The US-German healthcare company has gained 45.73% since its lowest print of $12.81 earlier this year.