Short
SNE probable Short term correction
Updated
SNE has flown past its $84 prior resistance level, highly likely this will act as our new support. PS5 Launch provides Revenue support for this idea.
Massively overbought at these levels on an RSI basis, 20- and 50-day Moving Averages trailing more than usual for this stock, probably due for a correction down to that $84 level.
Look for this space for entry, if it holds on a pullback.
Might be premature but I also see the potential for an Evening Doji Star setup, further suggesting short-term downside.
Any thoughts?
Please like and comment below :)
InvestEmi
(*This is not financial advice, for sake of discussion and illustrative purposes only*)
Massively overbought at these levels on an RSI basis, 20- and 50-day Moving Averages trailing more than usual for this stock, probably due for a correction down to that $84 level.
Look for this space for entry, if it holds on a pullback.
Might be premature but I also see the potential for an Evening Doji Star setup, further suggesting short-term downside.
Any thoughts?
Please like and comment below :)
InvestEmi
(*This is not financial advice, for sake of discussion and illustrative purposes only*)
Note
Previous gap up has been filled quite beautifully, price only just tapped the upper range of my entry level, let's see if this pops for new ATHsNote
Up up and awayyy
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