Yesterday at a glance: ending Friday at $13.33, Fresenius Medical Care rallied 1.73% yesterday and stayed at the $13.56 level.
Meanwhile, United States NY Empire State Manufacturing Index (Oct) came out at -9.1, while a consensus of analysts was expecting -4.
Fresenius Medical Care AG & Co. KGaA made an initial breakout above its 10 day Simple Moving Average at $13.56, a potential indicator of a newly emerging bullish phase. On the other hand, note that although Fresenius Medical Care is appreciating today after rising as high as $13.72, price action is now slowing and consolidating around 12 cents below the $13.68 resistance level.
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 Abbott Laboratories traded at $103.52 after closing yesterday's trading day at $100.91 (up 2.59%). Novartis was up 2.25%. Thermo Fisher Scientific added 2.82% to its value, and traded at $517.23.
Also worthy of note, tomorrow at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to 1.55 million from the preceding figure of 9.88 million.
Furthermore, the market is looking at United States Building Permits (Sep) scheduled to come out tomorrow at 12:30 UTC.
Fresenius Medical Care traded as high as $36.05 before shedding 59.75% lower over the past six months.