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April 10, 2023
Investors are currently sidelined due to the Good Friday holiday but will return to their desks today. Looking back over the previous session Thursday: an influx of buyers helped the kidney dialysis specialist to end the session higher around $22.23, while establishing a $22.03 to $22.25 session range Thursday.
Fresenius Medical Care chart analysis: Fresenius Medical Care AG & Co. KGaA could be slowing down soon; it is getting close to the resistance line and is now at $22.31, only 8 cents away. Crossing the resistance line could, however, suggest that further gains are ahead. Trend analysis indicates that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. According to momentum evaluation, according to technical analysis of Fresenius Medical Care's Relative Strength Index (RSI), the market is currently overbought. Analysis based on the asset volatility indicates that Fresenius Medical Care's upper Bollinger Band® is at $22.38, this is a slight indication of a slowdown.
Overall, while Fresenius Medical Care has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
This rally in Fresenius Medical Care's share price coincided with other health care stocks as Bristol-Myers Squibb Company added 2.15% to its value, and traded at $70.74. Sanofi was up 2%. Eli Lilly and Company traded at $368.29 after closing Thursday's trading day at $362.24 (up 1.67%).
The market is looking forward to the release of new data: United States EIA Short-Term Energy Outlook is expected tomorrow at 16:00 UTC.
The stock has been trending positively for about a month. The kidney dialysis specialist has managed to gain 39.31% so far this year despite trading at lows around $12.81 previously.
