Downgrade Alert for Community Health Systems (CYH)
Community Health Systems (NYSE:CYH) was downgraded from Outperform to Neutral at Wedbush today. The stock closed yesterday at $22.83 on volume of 4.3 million shares, above average daily volume of 2.4 million.
Over the past year, Community Health Systems has traded in a range of $22.66 to $65.00 and closed yesterday at $22.83, 1% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 1.5% while the 50-day MA has declined 2.8%.
Community Health Systems has overhead space with shares priced $22.83, or 46.3% below the average consensus analyst price target of $42.52. The stock should find initial resistance at its 50-day moving average (MA) of $27.57 and further resistance at its 200-day MA of $46.66.
Community Health Systems Inc. owns, leases, and operates hospitals in multiple states. The Hospitals services include emergency room services, general surgery, critical care, internal medicine, obstetrics and diagnostic services. Community Health also owns interests in physicians, physician practices, imaging centers, home health agencies and ambulatory surgery centers.
SmarTrend recommended that its subscribers protect gains by selling shares of Community Health Systems on August 12th, 2015 by issuing a Downtrend alert when the shares were trading at $56.15. Since that call, shares of Community Health Systems have fallen 59.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: analyst upgrades/downgrades Community Health Systems