Dec 21, 2012 (Pivot alerts via COMTEX) -- Time Warner (NYSE:TWX) has opened bearishly below the pivot of $48.03 today and has reached the first level of support at $47.77. Investors may be interested in a cross of the next downside pivot targets of $47.27 and $46.51.

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.

Time Warner (NYSE:TWX) has potential upside of 5.3% based on a current price of $47.52 and analysts' consensus price target of $50.04. The stock should discover initial support at its 50-day moving average (MA) of $45.38 and subsequent support at its 200-day MA of $40.24.

Time Warner share prices have moved between a 52-week high of $48.54 and a 52-week low of $33.41 and are now trading 42% above that low price at $47.52 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.4%.

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Copyright, Comtex News Network, Inc. 2012