After Yesterday's Rally of 2.29% Shares Could Potentially Pullback
Time Warner (NYSE:TWX) traded in a range yesterday that spanned from a low of $75.22 to a high of $77.28. Yesterday, the shares gained 2.3%, which took the trading range above the 3-day high of $76.64 on volume of 4.1 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, Time Warner share prices have been bracketed by a low of $55.53 and a high of $91.34 and are now at $75.78, 36% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has slid 0.3%.
SmarTrend recommended that subscribers consider buying shares of Time Warner on March 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $67.83. Since that recommendation, shares of Time Warner have risen 8.6%. We continue to monitor TWX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders Time Warner