Let's have a look at SONY . SONY has been in a macro downtrend. It looks like the price formed double top pattern on weekly time frame. 2 tops around 100 $ , at the 0.382 fib level acting as a resistance. In my opinion it's not a time to look for longs on SONY. I would rather short it if the support at 80 $ fails. Breaking below 80$ will be a confirmation for bears and the price may drop even 23 % from there. The target for shorts and entry for longs is shown on the chart. If you want to play the bounce, 83 $ will be a target for longs.