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Sony Corporation (NYSE: SNE) — Impulsive Structure Since 2012

We examine today the technical Elliott Wave structure of Sony stock since late 2012.
ElliottWave-Forecast has built our reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Swing sequences, Distribution system and the Right Side system which consists of Right Side tags to inform clients of what side of the market should be traded and blue boxes to show areas for buying / selling. We provide precise forecasts with up-to-date analysis for 78 instruments including Forex, Commodities, ZN (10 year note yields), World Indices, Stocks, ETFs and Bitcoin.
ElliottWave-Forecast has built our reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Swing sequences, Distribution system and the Right Side system which consists of Right Side tags to inform clients of what side of the market should be traded and blue boxes to show areas for buying / selling. We provide precise forecasts with up-to-date analysis for 78 instruments including Forex, Commodities, ZN (10 year note yields), World Indices, Stocks, ETFs and Bitcoin.

We examine today the technical Elliott Wave structure of Sony SNE stock since late 2012 after a significant drop in the Yen which helped the Japanese stock market to start a recovery.

Sony has been rallying for 7 years with an impulsive Elliott waves structure, and the incomplete bullish sequence is still suggesting further upside for the stock as long as the 2016 pivot at $19.90 holds. We use our proprietary pivot system to tell us when a cycle has ended, and when we need to switch to a different degree. Therefore we believe Sony can still aim higher for the $65 – $73 area before another correction takes place.

Sony SNE Weekly Chart

Sony SNE Weekly Chart

Since October 2018, the stock has corrected lower in a classical 3 waves zigzag structure and reached the extreme blue box area of $39.80 – $42.60, which is a high-frequency area where markets are likely to end cycles and make a turn. Up from there, SNE started bouncing higher, ending the cycle from the peak and initially resuming the main daily bullish trend, or doing a 3 waves bounce at least.

Sony SNE 4H Chart

Sony SNE 4H Chart

Recap:

Sony’s impulsive structure since 2012 will remain intact as long as the pivot at the 2016 low of $19.90 holds, and short term support stands at the March 2019 low of $41.90. Consequently, the stock can see a recovery back toward the $51 – $53 level to clarify the short term structure before attempting to break the 2018 peak.

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