Fresenius Medical Care opened at $19.25 yesterday before posting solid session gaining 3.38%

Yesterday at a glance: Fresenius Medical Care rallied 3.38% and ended the session at $19.58.

Meanwhile, United States ISM Non-Manufacturing PMI (Feb) came out at 55.1, while a consensus of analysts was expecting 54.5. United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 224,200, while the previous figure was 243,800. United States CFTC Gold speculative net positions released yesterday at 20:30 UTC with a figure of 128,800, while the previous figure was 160,300.

Fresenius Medical Care AG & Co. KGaA made an initial breakout above its 5 day Simple Moving Average at $19.5, a potential indicator of a newly emerging bullish phase. Despite this, Fresenius Medical Care could be slowing down soon; it is getting close to the resistance line and is now at $19.71, only 13 cents away. Crossing the resistance line could, however, suggest that 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 Stryker was up 3.6%. Abbott Laboratories added 1.77% to its value, and traded at $104.45. Thermo Fisher Scientific traded at $559.44 after closing yesterday's trading day at $548.75 (up 1.95%).

The US-German healthcare company has managed to gain 22.43% so far this year despite trading at lows around $12.81 previously.