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May 21, 2023
Friday at a glance: pronounced bullish sentiment in the market helped the kidney dialysis specialist to make a notable 2.33% gain Friday, rising 53 cents and ultimately closing at $23.27.
Fresenius Medical Care AG & Co. KGaA made an initial breakout above its 21 day Simple Moving Average at $23.41, a potential indicator of a newly emerging bullish phase. Fresenius Medical Care's lower Bollinger Band® is at $22.67, indicating that the market is oversold and fertile for new buyers. On the other hand, note that Fresenius Medical Care could be slowing down soon as it approaches resistance at $23.42. Of course, crossing it might suggest further gains are ahead.
Overall, looking at the technical analysis landscape, it seems Fresenius Medical Care might continue pointing upwards in the short term.
A look at other health care stocks also showed bullish price action as Sanofi was up 2.17%. Merck was up 1.31%. AbbVie gained 1.16%, as it traded at $145.11.
The US-German healthcare company has gained 45.96% since its lowest print of $12.81 earlier this year.
