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Insider Sale Alert: Tenet Healthcare Corp. [THC] – Is it Time to sell?

CHWY Stock

Tenet Healthcare Corp.’s filing revealed that its Director West Nadja unloaded Company’s shares for reported $0.23 million on May 09 ’24. In the deal valued at $126.41 per share,1,782 shares were sold. As a result of this transaction, West Nadja now holds 29,680 shares worth roughly $3.74 million.

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Then, FISHER RICHARD W sold 2,500 shares, generating $308,000 in total proceeds. Upon selling the shares at $123.20, the Director now owns 17,627 shares.

Before that, Arnst Thomas W sold 8,148 shares. Tenet Healthcare Corp. shares valued at $945,994 were divested by the EVP, Chief Admin. Officer & GC at a price of $116.10 per share. As a result of the transaction, Arnst Thomas W now holds 0 shares, worth roughly $0.0.

Wolfe Research upgraded its Tenet Healthcare Corp. [THC] rating to an Outperform from a a Peer perform in a research note published recently. A number of analysts have revised their coverage, including Barclays’s analysts, who began to cover the stock in early March with a ‘”an Overweight”‘ rating. Cantor Fitzgerald began covering THC with “an Overweight” recommendation on April 21, 2023. JP Morgan started covering the stock on April 19, 2023. It rated THC as “an Overweight”.

Price Performance Review of THC

On Monday, Tenet Healthcare Corp. [NYSE:THC] saw its stock fall -0.79% to $126.12. Over the last five days, the stock has gained 3.07%. Tenet Healthcare Corp. shares have risen nearly 66.89% since the year began. Nevertheless, the stocks have risen 79.91% over the past one year. While a 52-week high of $128.68 was reached on 05/10/24, a 52-week low of $51.04 was recorded on 01/05/24. SMA at 50 days reached $104.10, while 200 days put it at $80.24. A total of 1.3 million shares were traded, compared to the trading of 1.13 million shares in the previous session.

Levels Of Support And Resistance For THC Stock

The 24-hour chart illustrates a support level at 124.25, which if violated will result in even more drops to 122.39. On the upside, there is a resistance level at 127.20. A further resistance level may holdings at 128.29. The Relative Strength Index (RSI) on the 14-day chart is 76.17, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 12.07, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 6.98%. Stochastics %K at 96.22% indicates the stock is a selling.

The most recent change occurred on June 17, 2022 when Loop Capital began covering the stock and recommended ‘”a Buy”‘ rating along with a $80 price target.

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