Tenet Healthcare Corporation Stock Forecast
Tenet Healthcare Corporation stock price up 1.78% on Monday
(Updated on Apr 22, 2024)
^ falseThe Tenet Healthcare Corporation stock price gained 1.78% on the last trading day (Monday, 22nd Apr 2024), rising from $93.19 to $94.85. During the last trading day the stock fluctuated 2.63% from a day low at $93.52 to a day high of $95.98. The price has fallen in 7 of the last 10 days and is down by -6.86% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 82 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $95.37 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $91.70 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 21.16% during the next 3 months and, with a 90% probability hold a price between $111.10 and $133.36 at the end of this 3-month period.
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THC Signals & Forecast
Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Tenet Healthcare Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $96.18 and $99.95. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -9.76%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Tenet Healthcare Corporation stock
Tenet Healthcare Corporation finds support from accumulated volume at $91.08 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.46 between high and low, or 2.63%. For the last week, the stock has had daily average volatility of 3.28%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (THC) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Tenet Healthcare Corporation to open at $94.78, and during the day (based on 14 day Average True Range), to move between $91.92 and $97.78, which gives a possible trading interval of +/-$2.93 (+/-3.09%) up or down from last closing price. If Tenet Healthcare Corporation takes out the full calculated possible swing range there will be an estimated 6.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $97.34 (2.63%) than the support at $91.08 (3.97%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Tenet Healthcare Corporation will release earnings BMO on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.45. We will update the financials statements for Tenet Healthcare Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.24% in the first trading day after earnings release.
Is Tenet Healthcare Corporation stock A Buy?
The Tenet Healthcare Corporation stock holds several negative signals and despite the positive trend, we believe Tenet Healthcare Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.500 Sell Candidate Unchanged
Predicted Opening Price for Tenet Healthcare Corporation of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $94.78 ( 0.0694%) | $94.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for THC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 97.24 | 2.52 % | |
| R2 | 96.30 | 1.53 % | ||
| R1 | 95.72 | 0.92 % | ||
| Current price: | 94.85 | |||
| Support | S1 | 93.85 | -1.06 % | |
| S2 | 93.27 | -1.67 % | ||
| S3 | 92.33 | -2.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 100.38 | 5.83 % | |
| R2 | 98.80 | 4.16 % | ||
| R1 | 97.34 | 2.63 % | ||
| Current price | 94.85 | |||
| Support | S1 | 91.08 | -3.97% | |
| S2 | 89.11 | -6.05% | ||
| S3 | 89.02 | -6.15% |
THC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 06, 2000 | Mar 13, 2000 | Mar 24, 2000 | $0.0267 | 0.0460% |
| 2 | Aug 16, 1993 | Aug 16, 1993 | Sep 10, 1993 | $0.320 | 1.57% |
| 3 | May 17, 1993 | May 17, 1993 | Jun 11, 1993 | $0.320 | 1.32% |
| 4 | Feb 12, 1993 | Feb 12, 1993 | Mar 12, 1993 | $0.320 | 1.25% |
| 5 | Nov 06, 1992 | Nov 06, 1992 | Dec 04, 1992 | $0.320 | 0.94% |
FAQ
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