Facebook (FB), GoPro (GPRO) and Groupon (GRPN) shoot higher on Q2 earnings beat. READ MORE

Jump on This Health Care Stock’s High-Volume Breakout

THC broke from a double-top with a strong buy signal from MACD

   

Tenet Healthcare Corp. (NYSE:THC) — This investor-owned health care services company owns and operates acute-care hospitals, ambulatory surgery centers and diagnostic imaging centers. In 2011 it acquired 15 outpatient centers, four diagnostic imaging centers, three oncology centers, and several other related medical facilities.

The company earned $0.52 per share in 2011, and $1.73 in 2012, and it is expected to earn $2.91 in 2013 and $3.51 in 2014. This week, a Jeffries’ analyst reiterated a “buy” rating on the stock and raised its price target to $48.

Technically, THC consolidated in February between $36 and $40, and on Thursday, broke from a double-top with a trading target of $48. The breakout was supported by high volume and a strong buy signal from MACD. Long-term investors could take a position in this stock for potentially much higher returns.

THC Chart
Click to Enlarge

Trade of the Day Chart Key


Article printed from InvestorPlace Media, http://investorplace.com/2013/03/trade-of-the-day-tenet-healthcare-corp-nyse-thc/.

©2016 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.