Sony Corporation Stock Forecast
Sony Corporation stock downgraded to Sell Candidate
(Updated on Jun 20, 2024)
The Sony Corporation stock price gained 0.711% on the last trading day (Thursday, 20th Jun 2024), rising from $80.13 to $80.70. During the last trading day the stock fluctuated 0% from a day low at $80.70 to a day high of $80.70. The price has fallen in 4 of the last 10 days and is down by -6.72% for this period. Volume fell on the last day by -60 shares and in total, 500 shares were bought and sold for approximately $40.35 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.91% during the next 3 months and, with a 90% probability hold a price between $71.07 and $83.18 at the end of this 3-month period.
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SNEJF Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Sony Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $83.27 and $82.21. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 06, 2024, and so far it has fallen -7.33%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Sony Corporation stock
Sony Corporation finds support from accumulated volume at $78.59 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SNEJF) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Sony Corporation to open at $80.70, and during the day (based on 14 day Average True Range), to move between $79.18 and $82.22, which gives a possible trading interval of +/-$1.52 (+/-1.89%) up or down from last closing price. If Sony Corporation takes out the full calculated possible swing range there will be an estimated 3.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $81.10 (0.50%) than the support at $78.59 (2.61%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Sony Corporation stock A Buy?
Sony Corporation holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.238 Sell Candidate Downgraded
Predicted Opening Price for Sony Corporation of Friday, June 21, 2024
Fair opening price June 21, 2024 | Current price |
---|---|
$80.70 ( 0%) | $80.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SNEJF
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 80.70 | - |
R2 | 80.70 | - |
R1 | 80.70 | - |
Price | 80.70 | |
S1 | 80.70 | - |
S2 | 80.70 | - |
S3 | 80.70 | - |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 84.06 | 4.16% |
R2 | 83.39 | 3.33% |
R1 | 81.10 | 0.501% |
Price | 80.70 | |
S1 | 78.59 | -2.61% |
S2 | 76.30 | -5.45% |
S3 | 75.50 | -6.44% |
SNEJF Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Sep 27, 2024 | Sep 27, 2024 | Sep 27, 2024 | $0 | 0% |
2 | Mar 28, 2024 | Mar 28, 2024 | Jun 01, 2024 | $0.299 | 0.381% |
3 | Sep 28, 2023 | Sep 28, 2023 | Sep 28, 2023 | $0.267 | 0.323% |
4 | Mar 30, 2023 | Mar 30, 2023 | Dec 03, 2018 | $0.301 | 0.580% |
5 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | $0.243 | 0.366% |
FAQ
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