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 three weeks making a gap.
The MACD is in bearish sign and the RSI too but both are smoothing the movement.
The stock met resistance at the bottom of KUMO at $16.55 and retreated to $16.18 before two weeks and $16.10 last week. On the other hand the price is exactly on the EMA 100.
So is very interesting again this week (24) to see if the price stops the consolidations and will get in the KUMO. 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.
The Price of SNE after earnings and forecasting announcements before two weeks, retreat from $17,30 to almost $16 last three weeks making a gap.
The MACD is in bearish sign and the RSI too but both are smoothing the movement.
The stock met resistance at the bottom of KUMO at $16.55 and retreated to $16.18 before two weeks and $16.10 last week. On the other hand the price is exactly on the EMA 100.
So is very interesting again this week (24) to see if the price stops the consolidations and will get in the KUMO. 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.
