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3 Health Care Stocks to Trade (or Not)

Tenet Healthcare

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Nearest Resistance: $5.50

Nearest Support: $5.06

Catalyst: Supreme Court Healthcare Ruling

Meanwhile, shares of Tenet Healthcare (THC - Get Report) are up big today -- around 8.4% as of this writing -- following the Supreme Court's ruling upholding the constitutionality of Obamacare. Regardless of where you sit politically on the issue, the ruling has big implications for firms like Tenet.

>>5 Stocks Under $10 Set to Soar

That's because Tenet, which operates healthcare facilities, should benefit from the ruling because it means that more consumers will be covered under health insurance. That should help to reduce write-offs for unpaid services and send more patients voluntarily through the firm's doors.

Tenet is trading in a wide range in today's session as a result of the Supreme Court ruling. Resistance at $5.50 is fairly weak. That could open the door to higher ground for shares of THC in the next few sessions.

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