Healthcare Stock Pullback Presents Opportunity for Bulls

THC's recent rally hints at underlying technical strength

Apr 12, 2024 at 2:21 PM
facebook X logo linkedin


Subscribers to Schaeffer's Weekend Trader options recommendation service received this THC commentary on Sunday night, along with a detailed options trade recommendation -- including complete entry and exit parameters. Learn more about why Weekend Trader is one of our most popular options trading services.

The shares of Tenet Healthcare Corp (NYSE:THC) recently pulled back to their 25-day moving average, which has been supportive all 2024. The stock is trading above the round $100 level, which represents the $10 billion market cap, and now may be time to speculate with calls, as we anticipate this uptrend will continue.

THC rallied from early February into mid-March despite a 30% increase in short interest, hinting at its underlying technical strength. It would take shorts more than three days to cover their bets, at the equity's average pace of trading.

Our recommended June call has a leverage ratio of 6.2, and will double on a 16.2% jump in the underlying shares.
  
 

Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.


Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!

 

 
 
 


 
 

Rainmaker Ads CGI