Converging Odds….

  • September 20, 2002
  • Duke Heberlein

What is a good area to look for a move back in the direction of the general
trend for a swing trader? I like to look at a daily chart and see the stock
hitting a key moving average and a retracement level.

 


11:15:58

Tenet Healthcare (THC)
is pulling back to the 20-day moving average after a thrust higher. The
stock is up 0.12 to 48.75 and is holding a

3-month
relative strength rank of 85 from TradingMarkets.com.

 

 

Tenet Healthcare
(
THC |
Quote |
Chart |
News |
PowerRating) is hitting the intersection of the
20-day moving average and a 50% RT of the recent leg higher. This gives a good
indication the stock will retest the previous high, beginning at or near this
juncture. Now we watch and wait.

Have a great weekend,

Duke