« IBM Holds Range Support | Main | First Data, Merck and Energizer »
May 17, 2006
Cable Stocks Remain Hot
I featured Comcast (CMCSA) has it broke double bottom resistance in late April. The stock then gapped higher and looks headed for a bout with its 2005 high around 34.5.
TimeWarner (TWX) has lagged CMCSA lately, but appears to be playing a bit of catch up. The stock surged above 17.2 on good volume in late April and help 17 on the early May pullback. While the broader market tanked last week, TWX held firm and advanced over the last five days with above average volume. Money is moving into TWX and I am looking for a resistance test around 19.
Posted by Arthur B. Hill at May 17, 2006 07:50 AM