THC Technical Analysis - TENET HEALTHCARE CORP

Technical Rating and Analysis

Taking everything into account, THC scores 9 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, THC is showing a nice and steady performance.

The long and short term trends are both positive. This is looking good!

THC is part of the Health Care Providers & Services industry. There are 101 other stocks in this industry. THC outperforms 80% of them.

A new 52 week high is currently being made by THC, which is a very good signal! However, this is in line with the S&P500, which is also trading near new highs.

In the last month THC has a been trading in the 180.78 - 205.99 range, which is quite wide. It is currently trading near the high of this range.

THC has an average volume of 1130920 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

Looking at the yearly performance, THC did better than 82% of all other stocks. However, this overall performance is mostly based on the strong move around 4 months ago.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

TENET HEALTHCARE CORP / THC Weekly stock chart

TENET HEALTHCARE CORP / THC Daily stock chart

Setup Rating and Analysis

Although THC has an excellent technical rating, the quality of the presented setup is not ideal at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

133.13

205.03

We found 5 important support areas.

A support zone ranging from 194.74 to 194.92. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
A support zone ranging from 181.28 to 183.98. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Support @177.59 from a trend line in the daily time frame.
Support @173.44 from a trend line in the weekly time frame.
Support @134.47 from a trend line in the weekly time frame.

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What is Support and Resistance

Support and Resistance indicators

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	UP	POSITIVE	The long term trend for THC is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for THC is up.
ChartMill Relative Strength	82.94	POSITIVE	THC has a high relative strength, it outperformed 82.94% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of THC is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of THC is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of THC is above the rising SMA(200).
Relative Strength Index/RSI (14)	67.21	NEUTRAL	The RSI value for THC is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.41	POSITIVE	The MACD value suggests THC has a positive trend, although the MACD value is declining.
Stochastics (14,3)	90.06	OVERBOUGHT	The high Stochastics value suggests THC may be overbought.
Average True Range in percent/ATR (20)	2.76	MEDIUM VOLATILITY	The ATR as a percentage value for THC suggests some volalility.
Average Directional Index/ADX (14)	24.62	NEUTRAL	The ADX value for THC suggests a possible start of a new trend.