A quick look at yesterday: after ending Tuesday at $15.43, Fresenius Medical Care went up to $15.66 only to drop back, yet still traded well overall and closed at $15.62 yesterday.
United States Core PCE Price Index (MoM) (Oct) is next today at 13:30 UTC.
Fresenius Medical Care's uptick comes amid good United States macroeconomic data released during the day — United States Pending Home Sales beat analyst expectations of -5% and the previous reading of -8.7% with new data of -4.6%.
Fresenius Medical Care's uptick comes amid disappointing United States macroeconomic data released during the session – data from United States concerning Crude Oil Inventories was released yesterday at 15:30 UTC. Newly published figures emphasized continued decline from last month's figure of -3.69 million to -12.58 million this month.
At the same time, United States JOLTs Job Openings (Oct) came out at 10.33 million, while a consensus of analysts was expecting 10.3 million.
Despite posting gains on yesterday, Fresenius Medical Care AG & Co. KGaA slid below its 5 day Simple Moving Average at $15.31 during the last session — an early indicator that a negative trend could be emerging. Fresenius Medical Care could be slowing down soon; it is getting close to the resistance line and is now at $15.76, only 14 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.
After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest 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 Thermo Fisher Scientific was up 3.79%. Medtronic traded at $79.04 after closing yesterday's trading day at $76.48 (up 3.35%). UnitedHealth was up 3.74%.
Yesterday's gains have given market bulls further impetus to expect strong macro data going forward, such as United States Initial Jobless Claims is projected to outperform its last figure with 235,000. It previously stood at 240,000; data will be released today at 13:30 UTC.
Furthermore, the market is looking at as things stand, upcoming United States Non Farm Payrolls data is projected to fall short of market expectations with newly published data of 200,000, following on from the preceding figure of 261,000. New data is set to be published tomorrow at 13:30 UTC.
Also worthy of note, United States Core PCE Price Index (MoM) (Oct) scheduled to come out today at 13:30 UTC.
The stock has been trending positively for about a month. The US-German healthcare company traded as high as $34.84 before shedding 49.11% lower over the past six months.