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Sony

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SONY CORP (6758) Two Scenarios! hey guys, sony is standing on a key structure resistance level! depending on what is your bias on this stock you may either see an ascending triangle on 4H or a double top formation. no matter what it is, we can trade the stock to both sides. if the price breaks above resistance of the ascending formation, for us, it will be a long signal and we buy expecting a continuation to higher scructure levels! in contrast, 6600 is our minor support. being broken to the downside, for us, it will be a trigger to short! both scenarios are equally possible so be prepared! good luck!
TSE:6758Long
by VasilyTrader
3
SONY must break its ATH or lose up to 50% value.The previous attempt a year ago ended at 6973, just a couple Yuen shy of the 7010 high. This scenario is very unusual and could end badly for the stock if it fails a second attempt. But there's good news. On the 'daily' chart you'll see a clear ' diamond continuance ' formation which started on July 8th and ended around August 28th. This rare formation is an indication for volume-backed support. Having said that, the stock is likely to touch (and slightly break) the ATH, then temporarily reverse to the 14MA (to recharge), before ultimately running for a definite breakout above the ATH (right around the PlayStation 5 release date). Failing to do any of that would send the stock back towards the 'monthly' 125 moving average and lower. Succeeding in breaking the ATH will send the stock towards 9000+ in "no time".
TSE:6758
by UnknownUnicorn5323213