SNE – Sony Corp

Update July 2, 2019

Monthly chart shows how Sony peaked during the DOT.COM bubble and likely bottomed late-2012. If you’d bought in the mid-80s you’d be at break even 25 years later… Just to show how well buy-n-hold for ever works… So just make sure you have an exit strategy in place.

That said, moving on to the weekly chart, the price action off the late-2012 low counts well as impulsive and the waves’ highs and lows hit the Fib-extenions and retraces for each wave pretty well (not shown), adding weight to the evidence that this is indeed an impulse. Price has now likely bottomed for (yellow) major-4 as it did an typical 38.2% retrace of major-3, and major-5 to new uptrend highs at around the low $70s should now be underway. That should then complete Primary-I of Cycle-3/C. Primary-II should then ideally bring price back to the $33-23 depending on retrace percentage. These levels are strong support obviously (top of red intermediate wave-i, and top of green minor-1, as well as bottomed of wave-ii and high of yellow major wave-1). But for now I prefer to look higher before (much lower).

NOTE: A break below $47 is a first warning sign of lower price to come whereas a break below $42 targets $33-$36.