Reading the Charts in Tenet Healthcare #THC to Generate Trading Plans

Source: Stock Traders Daily

Technical Summary

Term →Near Mid Long
Bias Strong Strong Strong
P1 0 0 49.73
P2 65.95 64.93 55.56
P3 67.13 67.20 61.65

When we read the #charts for Tenet Healthcare (NYSE: THC) we are able to reach a #conclusion that may not be otherwise discernable.  We can see where buy signals exist, where sell signals exist, and where risk controls should be implemented.  These are what create trading plans.  The example here is for THC and it demonstrates this practice.  This data is current, but it is not real time. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports

Long Term Trading Plans for THC

May 9, 2021, 10:00 am ET

The Technical Summary and Trading Plans for THC help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this THC Report.

THC - (Long) Support Plan

The technical summary data tells us to buy THC near 61.65, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 61.47 to protect against excessive loss in case the stock begins to move against the trade. 61.65 is the first level of support below 66.84, and by rule, any test of support is a buy signal. In this case, if support 61.65 is being tested, a buy signal would exist.

THC - (Short) Resistance Plan

NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.

Graph of Evitar Corte vs S&P 500

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Swing Trading Plans for THC

May 9, 2021, 10:00 am ET

The Technical Summary and Trading Plans for THC help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this THC Report.

THC - (Long) Support Plan

If 67.20 begins to break higher, the technical summary data tells us to buy THC just over 67.20, with an upside target of n/a. The data also tells us to set a stop loss @ 67.01 in case the stock turns against the trade. 67.20 is the first level of resistance above 66.84, and by rule, any break above resistance is a buy signal. In this case, 67.20, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

THC - (Short) Resistance Plan

The technical summary data is suggesting a short of THC if it tests 67.20 with a downside target of 64.93. We should have a stop loss in place at 67.39 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 67.20, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for THC

May 9, 2021, 10:00 am ET

The Technical Summary and Trading Plans for THC help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this THC Report.

THC - (Long) Support Plan

If 67.20 begins to break higher, the technical summary data tells us to buy THC just over 67.20, with an upside target of n/a. The data also tells us to set a stop loss @ 67.04 in case the stock turns against the trade. 67.20 is the first level of resistance above 66.84, and by rule, any break above resistance is a buy signal. In this case, 67.20, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

THC - (Short) Resistance Plan

The technical summary data is suggesting a short of THC if it tests 67.20 with a downside target of 65.95. We should have a stop loss in place at 67.36 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 67.20, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.