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Upgrade Alert for Community Health Systems (CYH)

By Shiri Gupta

Community Health Systems (NYSE:CYH) was upgraded from Underperform to Neutral at Mizuho today. The stock closed yesterday at $10.83 on volume of 4.9 million shares, above average daily volume of 3.5 million.

Community Health Systems has overhead space with shares priced $10.84, or 74.5% below the average consensus analyst price target of $42.52. The stock should run into initial resistance at its 50-day moving average (MA) of $17.62 and subsequent resistance at its 200-day MA of $31.40.

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.

In the past 52 weeks, shares of Community Health Systems have traded between a low of $10.53 and a high of $65.00 and closed yesterday at $10.84, which is 3% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 2.8% while the 50-day MA has advanced 0.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Community Health Systems on May 3rd, 2016 by issuing a Downtrend alert when the shares were trading at $14.14. Since that call, shares of Community Health Systems have fallen 19.1%. 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

Ticker(s): CYH