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TheStreet Open House

6 Strong Buys Breaking Near 52-Week Highs

Stocks in this article: RF JNJ SNV HOV TWX

TWX Chart TWX data by YCharts

Time Warner (TWX - Get Report)

Background: Time Warner operates as a media and entertainment company in the U.S. and internationally. It operates in three segments: Networks, film and TV, and publishing. Founded in 1985, it is headquartered in New York. Time Warner trades an average of 7 million shares per day with a market cap of $44 billion.

52-Week High: $46.56

Time Warner's average analyst target price is $46.66, a price target that may soon be achieved and exceeded. Time Warner closed within a dime of the 52-week high placed last month during the close of Monday's trading.

The 60-day moving average is above the 200-day moving average, which is a bullish indicator for chart technicians. Trend followers seek out this type of consistent bull pattern and will hold a position until a technical break results in a signal to exit.

From a valuation outlook, Time Warner isn't selling for a rich premium. The trailing 12 month P/E is 18. The mean fiscal-year estimate P/E is 12.74, based on earnings of $3.20 per share this year. The low P/E leaves plenty of room for Time Warner to continue appreciating.

The short interest based on the float is small and not lofty enough to concern me at 3.3%.

Bottom line: Expect Time Warner to make a new 52-week high this week or next.

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