Shares of Time Warner (NYSE:TWX) traded today at $56.84, breaking its 52-week high. Approximately 10.2 million shares have changed hands today, as compared to an average 30-day volume of 6.1 million shares.
Time Warner has overhead space with shares priced $56.32, or 3.3% below the average consensus analyst price target of $58.25. The stock should find initial support at its 50-day moving average (MA) of $50.92 and further support at its 200-day MA of $44.08.
In the past 52 weeks, Time Warner share prices have been bracketed by a low of $33.62 and a high of $56.84 and are now at $56.32, 68% above that low price. The 200-day and 50-day moving averages have moved 0.67% higher and 0.82% 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.