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March 12, 2023
A quick look at Friday: after closing Thursday at $18.93, Fresenius Medical Care closed at $19.54 Friday after climbing to $19.78 and dropping back down.
Fresenius Medical Care AG & Co. KGaA made an initial breakout above its 21 day Simple Moving Average at $19.67, a potential indicator of a newly emerging bullish phase. Price action remains constrained around the key Fibonacci level of $19.61 currently serving as resistance On the other hand, note that after reaching the known resistance zone beginning at $19.75, Fresenius Medical Care price action retreated approximately 21 cents.
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 AbbVie added 1.6% to its value, and traded at $149.71.
Fresenius Medical Care went up Friday, yet these health care stocks did not follow — Medtronic descends 1.64% Friday to close at $78. Thermo Fisher Scientific went down 1.7%, closed at $553.21.
The US-German healthcare company has managed to gain 22.13% so far this year despite trading at lows around $12.81 previously.
