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Sony Looks to Continue to Trade Above its Annual-High Share Price Today

By Shiri Gupta

Shares of Sony (NYSE:SNE) traded at a new 52-week high today of $33.26. So far today approximately 1.4 million shares have been exchanged, as compared to an average 30-day volume of 1.7 million shares.

Sony Corporation manufactures audio, home video game consoles, communications, key device and information technology products for the consumer and professional markets. The Company's other businesses include music, pictures, computer entertainment, and online businesses.

There is potential upside of 3.2% for shares of Sony based on a current price of $33.22 and an average consensus analyst price target of $34.30. Sony shares have support at the 200-day moving average (MA) of $25.27 and additional support at the 50-day MA of $25.02.

Over the past year, Sony has traded in a range of $19.90 to $33.26 and is now at $33.22, 67% above that low. Over the past week, 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 16.6%. We continue to monitor SNE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Sony

Ticker(s): SNE