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Buyers Accumulate Shares of Tenet Healthcare, Up 1.3%

Published on Thu, 01/03/2013 - 11:37
By Adrienne Chilton

One of today's stocks on the move is Tenet Healthcare (NYSE:THC), up 1.3% to $33.83. The S&P is currently trading fractionally lower to 1,460 and the Dow Jones Industrial Average is trading 0.2% lower to 13,383.

Over the past year, Tenet Healthcare has traded in a range of $17.24 to $34.13 and is now at $33.83, 96% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 1.8%.

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 (NYSE:THC) defies analysts with a current price ($33.83) 13.0% above its average consensus price target of $29.43. The stock should discover initial support at its 50-day moving average (MA) of $28.10 and subsequent support at its 200-day MA of $22.68.

By Adrienne Chilton