United

Tenet

Resistance

Daily

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>THC stock showed a breakdown and lost momentum in the last sessions.</a> </li> 
 <li> <span>2</span> <a>Bears have shown their strength and initiated fresh short positions.</a> </li> 
</ul> 
<p>Tenet Healthcare (THC stock) showed a breakdown and exited the channel indicating selling pressure in the past sessions. Moreover, the stock slipped below the 100-day EMA and is heading toward the support zone near $65. Moreover, the price action shows that THC stock was in an uptrend for the past months and railed by 60% from the demand zone of $40 to $70.&nbsp;</p> 
<p>The chart structure of THC stock suggests that the price has shown a retracement in the last session and is heading to retest the 200-day EMA near the support range at $60. However, investors have reacted as a buy-on-dip opportunity instead of fresh selling in the stock. Moreover, the technicals remained neutral, meaning that a bounce can be seen near the range of $65, where buyers will likely accumulate, and a healthy bounceback will be witnessed in the upcoming sessions.</p> 
<p>At press time, THC stock price was $70.68 with an intraday drop of 0.79%. However, the trading volume remained at 1.235 Million, and the market cap was $7.177 Billion.</p> 
<p>Moreover, analysts maintained a strong buy and overweight rating with a yearly target price of $93.53, suggesting a strong growth outlook for the upcoming sessions.</p> 
<p>Tenet Healthcare Corp. engages in the provision of healthcare services. It operates through the following segments: Hospital Operations and Other, Ambulatory Care, and Conifer.</p> 
<p>The Hospital Operations and Other segments comprise acute care hospitals, ancillary outpatient facilities, urgent care centers, micro-hospitals, and physician practices.</p> 
<p>The Ambulatory Care segment includes the operations of the USPI joint venture and the company’s nine Aspen facilities in the<a href="https://www.thecoinrepublic.com/2022/11/29/crypto-frauds-may-grow-in-united-kingdom-during-the-recession/" target="_blank" rel="noopener noreferrer nofollow"> United Kingdom</a>. The Conifer segment offers healthcare business process services in hospital and physician revenue cycle management and value-based care solutions to healthcare systems.</p> 
<h2 class="wp-block-heading" id="strong-thc-stock-shows-selling-pressure-on-daily-charts-strong"><strong>THC Stock Shows Selling Pressure on Daily Charts</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/hmAm95yxj6HjZO33eSc31t-00GnN1L1ELa4W61SHJTtddAE0T9N4IrPz73IdkZH1dYDS3bmVHhVWmLvo-lGt6On9KX3cCiFRnSOsPKcNnIRDhYLJfhQ7Ii0nOImv46u4k817CyGXzKDVsqZ3mRtvxw" alt="THC Stock (NYSE: THC) Exited the Channel, Will It Retest $65?"> 
  <figcaption class="wp-element-caption">
    Source: THC Stock Price Chart At TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>THC stock showed selling pressure and traded out of the channel, indicating that stock may revisit the support zone near $60 in the following sessions. However, the price is trading above the 61.8% level but faced rejection near 78.2%, showing that sellers have regained strength and booked profits resulting in the selling pressure.</p> 
<p>The RSI curve dragged toward the oversold region and showed a bearish divergence on the charts, suggesting selling pressure. However, a bounce can be anticipated to retest the 20-day EMA in the following sessions.</p> 
<p>The MACD indicator showed a bearish crossover and red bars on the histogram, indicating a negative outlook on the charts.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>THC stock price exited the channel under selling pressure, indicating fresh short buildup activity on the charts. Moreover, the price action suggests that follow-on selling can be seen, which could drag the THC stock to retest the support range near $60.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels:</strong></h4> 
<p>Support Levels: $65 and $50</p> 
<p>Resistance Levels: $77 and $90</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

THC Stock (NYSE: THC) Exited the Channel, Will It Retest $65?

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