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Tenet Healthcare Crosses Above its 10-day MA (THC)

By Shiri Gupta

Today, shares of Tenet Healthcare (NYSE:THC) have crossed bullishly above their 10-day moving average of $15.72 on a volume of 5.8 million shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, Tenet Healthcare share prices have been bracketed by a low of $14.06 and a high of $60.93 and are now at $18.30, 30% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.5% while the 50-day MA has advanced 1.9%.

SmarTrend recommended that its subscribers protect gains by selling shares of Tenet Healthcare on March 20th, 2017 by issuing a Downtrend alert when the shares were trading at $17.67. Since that call, shares of Tenet Healthcare have fallen 13.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Tenet Healthcare

Ticker(s): THC