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Watch for Continued Gains in Shares of Tenet Healthcare (THC)

Published on Fri, 02/08/2013 - 15:23
By Adrienne Chilton

Shares of Tenet Healthcare (NYSE:THC) traded today at $40.00, breaking its 52-week high. So far today approximately 568,000 shares have been exchanged, as compared to an average 30-day volume of 2 million shares.

Tenet Healthcare (NYSE:THC) is currently priced 4.4% above its average consensus analyst price target of $38.08. The stock should discover initial support at its 50-day moving average (MA) of $33.74 and subsequent support at its 200-day MA of $24.62.

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.

Tenet Healthcare share prices have moved between a 52-week high of $40.00 and a 52-week low of $17.24 and are now trading 131% above that low price at $39.83 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.7% while the 200-day MA has risen 1.4%.

By Adrienne Chilton