Sony Crosses Above its 10-day MA (SNE)
Sony (NYSE:SNE) shares have crossed bullishly above their 10-day moving average of $9.80 on a volume of 591K shares. This may provide short-term investors a chance 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 $22.35 and a 52-week low of $9.57 and are now trading 4% above that low price at $9.94 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.8% while the 200-day MA has slid 1%.
SmarTrend recommended that its subscribers protect gains by selling shares of Sony on September 26th, 2012 by issuing a Downtrend alert when the shares were trading at $11.82. Since that call, shares of Sony have fallen 17.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: moving crosses Sony