Fresenius Medical Care gains 1.17%; sets session high of $23.52

A quick look at Friday: Fresenius Medical Care rallied 1.17% and ended the session at $23.42.

Fresenius Medical Care AG & Co. KGaA made an initial breakout above its 10 day Simple Moving Average at $23.46, a potential indicator of a newly emerging bullish phase. On the other hand, note that Fresenius Medical Care could be slowing down soon as it approaches resistance at $23.55. Of course, crossing it might suggest further gains are ahead.

Examining the technical analysis landscape, Fresenius Medical Care might continue its downtrend in the short term.

This rally in Fresenius Medical Care's share price coincided with other health care stocks as Bristol-Myers Squibb Company was up 1.98%. Sanofi was up 1.9%. Amgen was up 2%.

The US-German healthcare company has managed to gain 46.15% so far this year despite trading at lows around $12.81 previously.