After Yesterday's Rally of 1.18% Shares Could Potentially Pullback
Time Warner (NYSE:TWX) traded in a range yesterday that spanned from a low of $78.44 to a high of $79.98. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $79.38 on volume of 1.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, shares of Time Warner have traded between a low of $55.53 and a high of $91.34 and are now at $79.95, which is 44% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has slid 0.4%.
SmarTrend recommended that subscribers consider buying shares of Time Warner on July 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $74.20. Since that recommendation, shares of Time Warner have risen 6.1%. We continue to monitor TWX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders Time Warner