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Bullish Moving Average Cross by Sony (SNE)

By Nick Russo

Sony (NYSE:SNE) shares have crossed bullishly above their 10-day moving average of $32.75 on a volume of 195K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher 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 $33.50 and are now at $33.02, 66% above that low price. The 200-day and 50-day moving averages have moved 0.32% lower and 0.76% higher over the past week, respectively.

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 23.1%. 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