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Bullish Moving Average Cross by Sony (SNE)

By James Quinn

Today, shares of Sony (NYSE:SNE) have crossed bullishly above their 10-day moving average of $32.86 on a volume of 302K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Sony share prices have moved between a 52-week high of $33.70 and a 52-week low of $19.90 and are now trading 67% above that low price at $33.26 per share. 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 24.1%. 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