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Shares of Tenet Healthcare Have Risen Above Previous 52-Week High

Published on Thu, 01/24/2013 - 15:37
By Adrienne Chilton

Tenet Healthcare (NYSE:THC) traded at a new 52-week high today of $39.30. So far today approximately 1.3 million shares have been exchanged, as compared to an average 30-day volume of 2.2 million shares.

Tenet Healthcare share prices have moved between a 52-week high of $39.30 and a 52-week low of $17.24 and are now trading 125% above that low price at $38.83 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.5% while the 200-day MA has risen 0.7%.

Tenet Healthcare (NYSE:THC) defies analysts with a current price ($38.83) 14.0% above its average consensus price target of $33.38. The stock should find initial support at its 50-day moving average (MA) of $31.11 and further support at its 200-day MA of $23.65.

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.

By Adrienne Chilton