The Sony Corp (NYSE:SNE) Daily Diagram Technical Analysis shows the following:
The (SNE) share has broken the resistance of the trend line (red) lately. This resistance line was under the KUMO, which means that the SNE was bearish 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. MACD is weakening its bullish trend and RSI too. The volume is as usual.
Will we have a new morning star candlestick 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 MACD and tomorrow's movement. The share can go into the KUMO as well as it can decline under the Kijun Sen. Stay aside.
The (SNE) share has broken the resistance of the trend line (red) lately. This resistance line was under the KUMO, which means that the SNE was bearish 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. MACD is weakening its bullish trend and RSI too. The volume is as usual.
Will we have a new morning star candlestick 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 MACD and tomorrow's movement. The share can go into the KUMO as well as it can decline under the Kijun Sen. Stay aside.
