THC's Downtrend May Be Ending

RS3175 Updated   
NYSE:THC   Tenet Healthcare Corporation
THC is just above 100 EMA. RSI is 35. According to Squeeze Momentum indicator, bearish momentum is slowing down. In the past, THC has bounced from about 30 RSI. The likely scenario this time is that it may reach 70 and then start its movement upwards.
THC has lost support of earlier trendline (light blue) and a new downward trend line (dark blue) has now formed. Also lost support of 50 SMA. Bearish.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.