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Recent 52-Week High Exceeded in Shares of Tenet Healthcare (THC)

By Nick Russo

Shares of Tenet Healthcare (NYSE:THC) traded today at $63.50, breaking its 52-week high. This new high was reached on below average trading volume as 295,000 shares traded hands, while the average 30-day volume is approximately 1.5 million shares.

Potential upside of 0.5% exists for Tenet Healthcare, based on a current level of $63.46 and analysts' average consensus price target of $63.80. Tenet Healthcare shares have support at the 50-day moving average (MA) of $55.96 and additional support at the 200-day MA of $47.21.

Tenet Healthcare Corporation, through its subsidiaries, owns or operates general hospitals and related health care facilities serving communities in the United States. The Company operates rehabilitation hospitals, specialty hospitals, long-term care facilities, psychiatric facilities, and medical office buildings near its general hospitals, as well as ancillary health care businesses.

Tenet Healthcare share prices have moved between a 52-week high of $63.50 and a 52-week low of $37.95 and are now trading 67% above that low price at $63.46 per share. Over the past week, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 2.3%.

SmarTrend recommended that subscribers consider buying shares of Tenet Healthcare on July 16th, 2014 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $48.19. Since that recommendation, shares of Tenet Healthcare have risen 30.1%. We continue to monitor THC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Tenet Healthcare

Ticker(s): THC