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Recent 52-Week High Exceeded in Shares of Tenet Healthcare (THC)

Published on Wed, 03/27/2013 - 14:19
By Robert Cotter

Tenet Healthcare (NYSE:THC) traded today at a new 52-week high of $47.82. So far today approximately 789,000 shares have been exchanged, as compared to an average 30-day volume of 1.7 million shares.

Based on a current price of $47.69, Tenet Healthcare is currently 10.5% above its average consensus analyst price target of $42.67. The stock should discover initial support at its 50-day moving average (MA) of $40.33 and subsequent support at its 200-day MA of $28.12.

Tenet Healthcare Corporation, through its subsidiaries, owns or operates general hospitals and related health care facilities serving communities in the United States. The Company operates rehabilitation hospitals, specialty hospitals, long-term care facilities, psychiatric facilities, and medical office buildings near its general hospitals, as well as ancillary health care businesses.

In the past 52 weeks, shares of Tenet Healthcare have traded between a low of $17.24 and a high of $47.82 and are now at $47.69, which is 177% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.0% while the 200-day MA has risen 1.5%.

By Robert Cotter