Stock Charts to Watch: Time Warner (TWX)
TWX stock closed Friday at $70.68, just short of its 52-week high of $70.77. TWX stock has performed well so far in May, gaining nearly 7%. Now, it’s trying to surmount the $70 level for the fourth time in the past eight months.
Time Warner looks very healthy from a technical standpoint, with rising volume and both its 50- and 200-day moving averages moving in the right direction.
The fundamentals also support a breakout, as TWX has a forward P/E of 15.3 on estimated growth of 14.2%, a 1.8% yield and rising earnings estimates for both 2014 and 2015.
Keep a close eye on this one — TWX stock is in good enough shape that it might stage a breakout even without help from the broader market.