Yesterday at a glance: after ending Tuesday at $20.67, Fresenius Medical Care went up to $21.86 only to drop back, yet still traded well overall and closed at $20.8 yesterday.
United States Initial Jobless Claims data will be released today at 13:30 UTC, with an expected decline to 200,000.
At the same time, United States API Weekly Crude Oil Stock came out at 9.89 million, while a consensus of analysts was expecting 1.23 million. United States 5-Year Note Auction released yesterday at 18:00 UTC with a figure of 4.109, while the previous figure was 3.53.
A study of Fresenius Medical Care's historical price actions shows although Fresenius Medical Care AG & Co. KGaA is appreciating today after rising as high as $21.86, price action is now slowing and consolidating around $1.55 below the $22.35 resistance level. Trend and momentum 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. Asset volatility analysis shows that Fresenius Medical Care's upper Bollinger Band® is at $20.95, 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.
While Fresenius Medical Care was bullish yesterday, the following health care stocks underperformed: Astrazeneca PLC went down to $68.85, losing 1.06% after it closed at $69.59 yesterday. Pfizer decreases 0.75% yesterday to close at $42.7. Abbott Laboratories went down 0.93%, closed at $103.65.
Also worthy of note, projections for United States Crude Oil Inventories are set for a continuation of decline with 2 million while previous data was 16.28 million; data will be released today at 16:00 UTC. Today at 13:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 200,000 from the preceding figure of 194,000.
Elsewhere, United States Core PCE Price Index (MoM) (Jan) will be released tomorrow at 13:30 UTC.
The stock has been trending positively for about 2 months. The kidney dialysis specialist has managed to gain 29.35% so far this year despite trading at lows around $12.81 previously.