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June 13, 2023
Today at a glance: Fresenius Medical Care ended yesterday at $22.84. today it went up to $23 only to drop back, yet still managed to close at $22.93.
Meanwhile, United States Consumer Price Index came out at 0.1%, while a consensus of analysts was expecting 0.2%. United States Consumer Price Index released today at 12:30 UTC with a figure of 4%, while the previous figure was 4.9%. United States Core Consumer Prices released today at 12:30 UTC with a figure of 0.4%, while the previous figure was 0.4%.
Fresenius Medical Care AG & Co. KGaA made an initial breakout above its 50 day Simple Moving Average at $22.73, a potential indicator of a newly emerging bullish phase. Despite this, Fresenius Medical Care is 10 cents away from testing key resistance at $22.93. Peaking above this level could inspire market bulls and open the path to further gains.
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 Medtronic traded at $85.8 after closing today's trading day at $84.28 (up 1.81%). Amgen was up 2.02%. Pfizer gained 0.84%, as it traded at $40.23.
Today'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 1.48 million, having previously been at -451,000. The figure will be published tomorrow at 14:30 UTC.
Also worthy of note, projections for United States Producer Price Index are set for a continuation of decline with -0.1% while previous data was 0.2%; data will be released tomorrow at 12:30 UTC.
The market is looking forward to the release of new data: United States Interest Rate figure is projected at 5.25. It previously stood at 5.25; data will be released tomorrow at 18:00 UTC.
The kidney dialysis specialist has gained 41.78% since its lowest print of $12.81 earlier this year.
