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SmarTrend Watching for Potential Pullback in Shares of Tenet Healthcare After 3.32% Gain

By James Quinn

Tenet Healthcare (NYSE:THC) traded in a range yesterday that spanned from a low of $33.20 to a high of $33.84. Yesterday, the shares gained 3.3%, which took the trading range above the 3-day high of $33.03 on volume of 127,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Tenet Healthcare share prices have moved between a 52-week high of $33.84 and a 52-week low of $16.61 and are now trading 103% above that low price at $33.72 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 1.7%.

SmarTrend is tracking the current trend status for Tenet Healthcare and will alert subscribers who have THC in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Tenet Healthcare

Ticker(s): THC