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SmarTrend Watching for Potential Rebound in Shares of Tenet Healthcare After 1.73% Loss

By David Diaz

Tenet Healthcare (NYSE:THC) traded in a range yesterday that spanned from a low of $17.41 to a high of $17.99. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $17.72 on volume of 801,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Tenet Healthcare share prices have moved between a 52-week high of $60.93 and a 52-week low of $14.06 and are now trading 25% above that low price at $17.62 per share. The 200-day and 50-day moving averages have moved 1.53% lower and 1.93% higher over the past week, respectively.

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