Full steam ahead for Fresenius Medical Care as 5 days uptrend continues

Fresenius Medical Care has posted further gains as part of a 5 day trend that has already seen the stock gain $2.33. Heading in the same direction for now — after ending Friday at $21.26, Fresenius Medical Care is currently trading at $21.59.

Fresenius Medical Care is currently trading at $21.59 following the release of ISM Manufacturing PMI (Mar) data from the United States.

Meanwhile, United States ISM Manufacturing PMI (Mar) came out at 46.3, while a consensus of analysts was expecting 47.5. United States ISM Manufacturing Employment (Mar) released today at 14:00 UTC with a figure of 46.9, while the previous figure was 49.1. United States ISM Manufacturing Prices (Mar) came out at 49.2.

Technical chart analysis shows Fresenius Medical Care AG & Co. KGaA is 5 cents away from testing key resistance at $21.64. Peaking above this level could inspire market bulls and open the path to further gains. With regards to technical trend indicators, chart analysis show that investors are seeking long positions as Fresenius Medical Care price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Asset volatility analysis shows that Fresenius Medical Care's upper Bollinger Band® is at $21.48, 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.

A look at other health care stocks also shows bullish price action as UnitedHealth is trading at $491.58 after ending Friday's session at $472.59 (up 4%). Merck added 1.88% to its value, now trading at $108.39.

Also worthy of note, United States JOLTs Job Openings (Feb) will be released tomorrow at 14:00 UTC.

The stock has been trending positively for about a month. The kidney dialysis specialist now trading 31.97% above its 3-month low of $12.81.