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June 23, 2023
A quick look at yesterday: Fresenius Medical Care rallied 0.85% and ended the session at $23.85.
United States Services PMI is next today at 13:45 UTC.
Fresenius Medical Care's uptick comes amid disappointing United States macroeconomic data released during the session – Crude Oil Inventories in United States fell short of market expectations (1.87 million) with a reading of -3.83 million, continuing the decline from the previous figure of 7.92 million. New United States Initial Jobless Claims data fell short of the 260,000 projected by analysts with a reading of 264,000 while failing to improve upon the previous reading from last month (264,000).
Meanwhile, United States Existing Home Sales (May) released yesterday at 14:00 UTC with a figure of 4.3 million, while the previous figure was 4.29 million.
Fresenius Medical Care AG & Co. KGaA's upper Bollinger Band® is at $24.38, this is a slight indication of a slowdown. Fresenius Medical Care could be slowing down soon; it is getting close to the resistance line and is now at $23.94, only 9 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.
Despite basking in an uptrend and bullish intraday sentiment, chart analysis indicates Fresenius Medical Care is set for a reversal in the coming days.
A look at other health care stocks also showed bullish price action as Merck traded at $113.72 after closing yesterday's trading day at $111.16 (up 2.3%). Abbott Laboratories added 1.88% to its value, and traded at $108.25. Johnson & Johnson was up 1.06%.
Elsewhere, United States Services PMI is expected today at 13:45 UTC.
The kidney dialysis specialist has appreciated 53.07% over the past six months.
