Recent 52-Week High Exceeded in Shares of Community Health Systems (CYH)
Shares of Community Health Systems (NYSE:CYH) traded today at $38.73, breaking its 52-week high. This new high was reached on below average trading volume as 312,000 shares traded hands, while the average 30-day volume is approximately 1.1 million shares.
Community Health Systems Inc. owns, leases, and operates hospitals in multiple states. The Hospitals services include emergency room services, general surgery, critical care, internal medicine, obstetrics and diagnostic services. Community Health also owns interests in physicians, physician practices, imaging centers, home health agencies and ambulatory surgery centers.
In the past 52 weeks, Community Health Systems share prices have been bracketed by a low of $17.16 and a high of $38.73 and are now at $38.50, 124% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.9% while the 50-day MA has advanced 1.8%.
Community Health Systems (NYSE:CYH) is currently priced 5.4% above its average consensus analyst price target of $36.41. The stock should find initial support at its 50-day moving average (MA) of $31.30 and further support at its 200-day MA of $27.06.
SmarTrend recommended that subscribers consider buying shares of Community Health Systems on August 27th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.57. Since that recommendation, shares of Community Health Systems have risen 43.4%. We continue to monitor CYH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: 52 week high/lows Community Health Systems