Shares of Tenet Healthcare Rise Above Previous 52-Week High
Tenet Healthcare (NYSE:THC) traded today at a new 52-week high of $34.68. Approximately 299,000 shares have changed hands today, as compared to an average 30-day volume of 2 million shares.
Based on a current price of $34.39, Tenet Healthcare is currently 14.4% above its average consensus analyst price target of $29.43. The stock should discover initial support at its 50-day moving average (MA) of $28.30 and subsequent support at its 200-day MA of $22.74.
Over the past year, Tenet Healthcare has traded in a range of $17.24 to $34.68 and is now at $34.39, 99% 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 2.0%.
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 35.3%. 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