The ( SNE ) share has broken the resistance of the (red) lately. This resistance line was under the KUMO, which means that the SNE was in long term. Both weekly and monthly diagram show a local bottom at $16.
So the first think in mind is that $16 as you can see is a support (daily local bottom too) in long term diagrams. So it is a strong long term support. is weakening its and too. The is as usual.
Will we have a new pattern in yellow circle ?. The share is under the KUMO under the Tenkan Sen (green line) and above Kijun Sen (blue line) as a support for today.
There is a bottoming special pattern of reversal between the bold green lines ($16-$19). The fib from $19. 44 to $16.00 shows the target levels.
So I think that the critical point is and tomorrow's movement. The share can go into the KUMO as well as it can decline under the Kijun Sen. Stay aside.