d.vezeris

SONY Weekly (22) Chart Technical Analysis

NYSE:SNE   SONY CORPORATION COMMON STOCK
86 0 0
The Sony             ( SNE             ) weekly chart shows the following signs:

The Price of SNE             after earnings and forecasting announcements before two weeks, retreat from $17,30 to almost $16 last two weeks making a gap.

The MACD is in bearish sign and the RSI too.

In previous weekly tech analysis I said that I expected that the stock price would made more consolidations before shows the next movement but…
A H ypothesis of Bullish turn would happened if we have seen the following signs:
"a) Even under the EMA200 we have a cup with handle pattern (still valid),
b) We have an invert Head & Shoulders pattern (still valid),
c) If On Last Monday the stock opened with a bullish Gap at $16,32 so we could had a morning star (we had the gap ($16.38) but not the morning star )."

The stock met resistance at the bottom of KUMO at $16.55 and retreated to $16.18.

So is very interesting this week (23) to see if the price will get in the KUMO and if the Tenkan Sen will still remain over the Kijun Sen (first target will be the $17.48). Otherwise if the price retreat under the $15.90 the trend will turn to bearish for $14.52 first.
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