Time Warner: 52-Week High Recently Eclipsed (TWX)
Shares of Time Warner (NYSE:TWX) traded at a new 52-week high today of $53.99. Approximately 2.4 million shares have changed hands today, as compared to an average 30-day volume of 6 million shares.
In the past 52 weeks, shares of Time Warner have traded between a low of $33.62 and a high of $53.99 and are now at $53.93, which is 60% above that low price. The 200-day and 50-day moving averages have moved 0.78% higher and 0.90% higher over the past week, respectively.
Time Warner Inc. is a media and entertainment company. The Company's businesses include Internet services (AOL), cable, filmed entertainment, cable television networks, and publishing.
There is potential upside of 8.0% for shares of Time Warner based on a current price of $53.93 and an average consensus analyst price target of $58.25. The stock should find initial support at its 50-day moving average (MA) of $50.40 and further support at its 200-day MA of $43.70.
SmarTrend recommended that subscribers consider buying shares of Time Warner on November 19th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $45.00. Since that recommendation, shares of Time Warner have risen 18.2%. We continue to monitor TWX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: 52 week high/lows Time Warner