Sony - quick takeRSI: Approaching oversold territory
SMI: Divergence indicating that we can see a stall before a dip back to level of support.
Realized i did the chart for the non adr ticket.
So teaching moment here... take the metrics I have here and apply it to whichever Sony ticket you are are looking at.
Daiichi Sankyo Co Ltd (4568 - Tokyo) - Impulse wave patternShiseido Co Ltd (4911 - Tokyo) is in 3rd wave up and its 4th internal wave as ABC correction is under progress, which may take a day or two to complete. Thereafter 5th wave will proceed. This is all time high and huge out-performer to Nikkei.
Shiseido Co Ltd (4911 - Tokyo) - Impulse wave patternShiseido Co Ltd (4911 - Tokyo) is in C (or 3rd wave up) in 60 min time frame. A wave was leading diagonal followed by B zigzag wave. The up move belongs to C wave, which is subdividing in equal sized move with overlapping structure, possibly like extended move, but must be hold the invalidation level as confirmation. In weekly time frame, its a 5th wave up of C cycle.
Hitachi Ltd (6501 - Tokyo) - Updated EW count - from previous Hitachi Ltd (6501 - Tokyo) is in 5th internal of 3rd minor of C wave up, which is about to end (if not extended further). Thereafter 4th wave correction will start, which will give opportunity for small trading. Alternatively it can be major 3rd of C wave, but next correction size will reveal the count. As per previous update, it is in uptrend either corrective or impulse.
Toray Industries - Tokyo - 1 Hr sell trade Torey industries, Tokyo - 1 Hr sell trade will be about to trigger, as the stocks is in downtrend and underpeformer than tokyo index JP225.
Check the count as i am thinking of going to short within 1-3 days after confirmation in smaller time frame. Will see what happened next.
Hitachi Ltd (6501 - Tokyo) - C wave upHitachi Ltd (6501 - Tokyo) is in Technology stock in Japan, which in WXY pattern in Weekly time frame from 2010 low and currently in Y wave up in ABC sequence. Price is in C wave up, which confirmed when it completes five wave sequence in smaller time frame say 60 min. In 30 min time frame it made A wave up followed by complex B wave. Now C wave up is in progress with 3 wave set up. Within this week the earning will be release after 4 days. 3293 is the level which is currently acting as resistance and once it will broke, price will be rallied so fast towards C up.
Mitsubishi UFJ Financial Group (8306 - Tokyo) - ABC wave patternMitsubishi UFJ Financial Group was in 4th wave triangle, which was over. It is in now 5th wave down which is only confirmed when triangle will broken down. This 5th wave is the part of C wave major down in daily time frame as ABC correction down. The better odd for this set up is that it’s under-performer to Nikkei index.
Dentsu Group ( 4324 - Tokyo) - ABC wave pattern Dentsu Group ( 4324 - Tokyo) is in 5th of C wave down of Y wave in Weekly time frame from the top made in 2015. As shown in chart the 5th of 5th wave of C down is in progress after 4th wave completed in ABC correction. It is a huge under-performer to the market and easily made a new low if it retained the invalidation level (red line).