ATradersAnalysis

SONY retracing

NYSE:SNE   None
SNE had a crazy run like most other tech stocks, but it looks like the chart is out of energy. It's at the lower trendline of the upward channel, but I do think it will break the trendline and retrace to at least the 0.236 fib level. SONY has the Playstation 5 planned for this year and made a strong move with their new VISION line for cars. The Fib level will be a nice entry, but keep a close eye on the development of Corona virus. The virus could delay production, which will result in a bigger drop for most tech stocks.
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