After Yesterday's Rally of 1.76% Shares Could Potentially Pullback
Tenet Healthcare (NYSE:THC) traded in a range yesterday that spanned from a low of $23.99 to a high of $24.86. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $24.35 on volume of 1.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that its subscribers protect gains by selling shares of Tenet Healthcare on August 3rd, 2016 by issuing a Downtrend alert when the shares were trading at $27.01. Since that call, shares of Tenet Healthcare have fallen 10.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
In the past 52 weeks, shares of Tenet Healthcare have traded between a low of $21.39 and a high of $60.93 and are now at $24.74, which is 16% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1.5% while the 50-day MA has advanced 1.9%.
Keywords: rebounders Tenet Healthcare