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  • chriva chriva Dec 6, 2012 5:12 PM Flag

    SNE will recover

    I was long, but I unloaded my shares today based on it hitting its daily 20 sma and near the top end of its monthly sideways pattern.

    I will watch how it performs out of the the sideways pattern. If it does break out higher, I will look for today's high of day to hold as new support and let it run to about 11.50.

    If it fails, it may get ugly.

    On a fundamental view, it will be interesting to see what AAPL does with its TV product. Will they compete or partner with SNE?

    Only time will tell, but I play the charts, and it told me to get out today and wait on the sidelines for the next move.

    Good luck to all!

    Sentiment: Hold

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    • I am surprised that no one has talked about the recent divergence between the Nikkei, Strong USD vs. JPY and SNE price.

      That was the reason I bought it last week, looking for that divergence to narrow.

      One would believe that SNE should benefit from a week Yen (exports); just look at the Nikkei.

      You should always look at all market relationships, and see if there are any divergences as you would look for in other type of divergences whether price, technical study, etc.

      Sentiment: Hold

27.60-1.40(-4.83%)Jun 24 4:02 PMEDT