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 is 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 forcing its bullish trend and RSI too. The volume has an uptrend.
We have a morning star candlestick pattern in yellow rectangle. The share is under the KUMO but is over the Tenkan Sen (green line) and Kijun Sen (blue line) too.
There is a bottoming special pattern of reversal between the bold green lines ($16-$19). The fib from $19.44 to $16.00 shows a 0.618 correction at $17.31 first target.
So I think that the critical point is the KUMO ( $17-$17.72). If the share get in the KUMO then we will have a new uptrend development for a long term reversal.
The (SNE) share has broken the resistance of the trend line (red) lately. This resistance line is 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 forcing its bullish trend and RSI too. The volume has an uptrend.
We have a morning star candlestick pattern in yellow rectangle. The share is under the KUMO but is over the Tenkan Sen (green line) and Kijun Sen (blue line) too.
There is a bottoming special pattern of reversal between the bold green lines ($16-$19). The fib from $19.44 to $16.00 shows a 0.618 correction at $17.31 first target.
So I think that the critical point is the KUMO ( $17-$17.72). If the share get in the KUMO then we will have a new uptrend development for a long term reversal.
