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Bearish Moving Average Cross by Sony (SNE)

By David Diaz

Today, shares of Sony (NYSE:SNE) have crossed bearishly below their 10-day moving average of $32.97 on a volume of 235K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Sony share prices have been bracketed by a low of $19.90 and a high of $33.70 and are now at $32.74, 65% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.8%.

SmarTrend recommended that subscribers consider buying shares of Sony on May 13th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.31. Since that recommendation, shares of Sony have risen 26.1%. We continue to monitor SNE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Sony

Ticker(s): SNE