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May 20, 2023
Yesterday at a glance: pronounced bullish sentiment in the market helped the kidney dialysis specialist to make a notable 2.33% gain yesterday, rising 53 cents and ultimately closing at $23.27.
Meanwhile, United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 191,500, while the previous figure was 216,600. United States CFTC Gold speculative net positions released yesterday at 20:30 UTC with a figure of 179,800, while the previous figure was 195,800. Fresh CFTC Nasdaq 100 speculative net positions data from United States came out at 20,000.
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 traded at $55.03 after closing yesterday's trading day at $53.86 (up 2.17%). Merck gained 1.31%, as it traded at $115.49. AbbVie added 1.16% to its value, and traded at $145.11.
This year has been a bright one for the kidney dialysis specialist after trading as low as $12.81 and going on to appreciate by 45.96% year to date.
