I’ve been MIA since the last update yesterday as the impact of Hurricane Helene passing us yesterday was worse than anticipated & we were out of power until almost 2 am last night. I’m catching up on the charts & will post some more updates asap but wanted to pass along a couple of trade ideas (in the same sector, so maybe split between the two) that appear actionable right now.
THC (Tenet Healthcare Corp) offers an objective short entry on this breakdown below the primary uptrend line and/or a solid daily close below it following the divergent high. Max. suggested stop of 174.10 with a suggested beta-adjusted position size of 1.0. Daily chart below.
THC daily Sept 27th
HCA (HCA Holdings, Inc.) also offers an objective short entry here on this breakdown below the bearish rising wedge pattern following the most recent divergent high with a suggested stop above 412.35 and a suggested beta-adjusted position size of 1.0.
HCA daily Sept 27th
For anyone interest in shorting another health care company for additional diversification within the sector, UHS (Universal Health Services B) broke down below this bearish rising wedge today but has already hit S1 (first support level) so would offer an objective short entry on a decent bounce and/or solid break below S1. Right now, I like the other two as this one is at support so I’d like to see HCA & THC print solid daily closes below their respective rising wedge patterns first as well as the aforementioned preferred entry criteria for UHS before adding that one.
UHS daily Sept 27th