pool adsReading the Charts in Tenet Healthcare #THC to Generate Trading Plans
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.
Technical Summary
| Term → | Near | Mid | Long |
|---|---|---|---|
| Rating | Strong | Strong | Strong |
| P1 | 0 | 0 | 49.73 |
| P2 | 65.95 | 64.93 | 55.56 |
| P3 | 67.13 | 67.20 | 61.65 |
Support and Resistance Plot Chart for THC
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.
Blue = Current Price
Red= Resistance
Green = Support
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