Fresenius Medical Care closes at $23.58 after gaining 1.9%

A quick look at today: Fresenius Medical Care rallied 1.9% and ended the session at $23.58.

United States's Pending Home Sales new data released of -5.2% below its previous figure.

Fresenius Medical Care's uptick comes amid good United States macroeconomic data released during the day — highly important Initial Jobless Claims data from United States beat analyst expectations of 248,000 with a reading of 230,000.

Fresenius Medical Care's uptick comes amid disappointing United States macroeconomic data released during the session – United States Pending Home Sales published today at 14:00 UTC came out at -5.2%, falling short of the 0.5% projections and continuing its decline from the previous 0.8% figure. Following a previous reading of 2.6, GDP in United States released today at 12:30 UTC fell short of the two figure expected by analysts with an actual reading of 1.1.

Technical analysis trend indicators suggest that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. According to asset volatility analysis, Bollinger Band® analysis indicates that current price action is approaching the upper band at $23.76, thereby suggesting that Fresenius Medical Care is becoming overvalued. Analysis of Fresenius Medical Care's recent price action suggests Fresenius Medical Care could be slowing down soon as it approaches resistance at $23.65. Of course, crossing it might suggest further gains are ahead.

Notwithstanding Fresenius Medical Care's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

A look at other health care stocks also showed bullish price action as Eli Lilly and Company was up 3.74%. Thermo Fisher Scientific added 1.86% to its value, and traded at $543.

Fresenius Medical Care went up today, yet these health care stocks did not follow — AbbVie went down 8%, closed at $161.8.

The market is looking forward to the release of new data: United States Core PCE Price Index (MoM) (Mar) scheduled to come out tomorrow at 12:30 UTC.

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 43.64% year to date.