SONY just made it above 200SMA. There is high probability of continuation as the fundamentals improve. Moreover, SONY increased Revenue guidance for 2023. To note that revenues from PS are flat but Sony raised prices.
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It`s very possible the price to retrace to 85 area. If you are not comfortable with it, you may close the trade. Bullish case is still valid.
No longer meets what criteria? Still above the 200sma
alpha62539
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@Tim_yang98, time. I will monitor it, if we have some activity on higher volume, maybe I will jump back in.
Tim_yang98
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@alpha62539, looks like it's potentially building a base right on support levels (right on top of 200sma too). If these waves are impulsive, we'll def see those gaps fill (87.27, 93.09) and potentially continue this uptrend. Lose the 200sma and 74.81 low; we'll definitely go to lower prices.
alpha62539
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@Tim_yang98, it is on my watchlist, no position. If I see higher relative volume, I will have another look.