Sony stock price bias bullish after strong games sales forecast
Technical Analysis Summary Sony: Buy
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Sell | |
| Donchian Channel | Buy | |
| MA(200) | Buy | |
| Fractals | Buy | |
| Parabolic SAR | Sell |
Chart Analysis
The technical analysis of the Sony stock price chart on daily timeframe shows #T-6758, Daily has is retracing down toward the 200-day moving average MA(200) after hitting seventeen-month high a week ago. We believe a bullish momentum will continue after the price breaches above the upper boundary of Donchian channel at 13829. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 12606. After placing the order, the stop loss is to be moved every day to the next fractal low, following Parabolic indicator signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (12606) without reaching the order (13829), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of -
Sony stock price declined while the Playstation maker said the success of a hit TV drama is boosting sales of the game series upon which it is based. Will the Sony stock price continue retreating?
Sony said on Wednesday that the success of hit drama "The Last Of Us" from television network HBO is helping sales of the game series upon which it is based. Sony has also brought "The Last Of Us" franchise, which depicts characters struggling for survival in a post-apocalyptic United States, to PC as part of a push to diversify beyond consoles. The company expects PC revenue to rise more than fivefold to $450 million in the current financial year compared to $80 million two years earlier. Earlier there were reports the company is also preparing to expand its reach beyond consoles - into cloud gaming. Sony shares declined 0.78% over day after the announcement. And also on the downside, company’s annual profit outlook fell short of market expectations as reported four weeks ago, which resulted in 4.8% slump over day after the earnings report.