Recent 52-Week High Exceeded in Shares of Tenet Healthcare (THC)
Shares of Tenet Healthcare (NYSE:THC) traded at a new 52-week high today of $33.95. This new high was reached on below average trading volume as 285,000 shares traded hands, while the average 30-day volume is approximately 2.1 million shares.
Tenet Healthcare (NYSE:THC) defies analysts with a current price ($33.95) 13.3% above its average consensus price target of $29.43. The stock should discover initial support at its 50-day moving average (MA) of $28.10 and subsequent support at its 200-day MA of $22.68.
Over the past year, Tenet Healthcare has traded in a range of $17.24 to $33.95 and is now at $33.95, 97% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 1.8%.
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.
SmarTrend recommended that subscribers consider buying shares of Tenet Healthcare on November 5th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $25.35. Since that recommendation, shares of Tenet Healthcare have risen 31.7%. 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