Tenet Healthcare Corporation, an investor-owned health care services
company, primarily operates acute care hospitals and related health care
facilities in the United States. Its general hospitals offer acute care
services, operating and recovery rooms, radiology services, respiratory
therapy services, clinical laboratories, and pharmacies. As of December
31, 2013, it operated 77 hospitals with 20,293 beds; 183 outpatient
centers; 6 health plans; 6 accountable care networks; and Conifer Health
Solutions, LLC, which provides business process solutions to
approximately 700 hospital and other clients. Tenet Healthcare
Corporation was founded in 1967 and is headquartered in Dallas, Texas.
Take a look at the 1-year chart of Tenet (NYSE: THC) with the added notations:
THC had a great summer, but declined from there just as badly as it
had rallied. Over the last year, the stock has created a key price level
at $44 (blue), which has been support the last 3 times that level has
been tested. Now that the stock appears to be have broken that support,
lower prices should follow.
The Tale of the Tape: THC broke a key level of
support at $44. A trader could enter a short position on any rallies up
to or near $44 with a stop placed above the level. If the stock were to
break back above the $44 level, a long position could be entered
instead.
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