(SONY) Proactive Strategies

October 24, 2024, 15:56 pm ET, BY Jolene W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for SONY

• Buy SONY near 16.32 target 17.86 stop loss @ 16.27 Details

The technical summary data tells us to buy SONY near 16.32 with an upside target of 17.86. This data also tells us to set a stop loss @ 16.27 to protect against excessive loss in case the stock begins to move against the trade. 16.32 is the first level of support below 17.695 , and by rule, any test of support is a buy signal. In this case, support 16.32 would be being tested, so a buy signal would exist.

• Short SONY slightly under 17.86, target 16.32, stop loss @ 17.91 Details

The technical summary data is suggesting a short of SONY as it gets near 17.86 with a downside target of 16.32. We should have a stop loss in place at 17.91though. 17.86 is the first level of resistance above 17.695, and by rule, any test of resistance is a short signal. In this case, if resistance 17.86 is being tested, so a short signal would exist.

Swing Trading Plans for SONY

• Buy SONY slightly over 17.97, target 19.38, Stop Loss @ 17.92 Details

If 17.97 begins to break higher, the technical summary data tells us to buy SONY just slightly over 17.97, with an upside target of 19.38. The data also tells us to set a stop loss @ 17.92 in case the stock turns against the trade. 17.97 is the first level of resistance above 17.695, and by rule, any break above resistance is a buy signal. In this case, 17.97, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short SONY slightly near 17.97, target 17.55, Stop Loss @ 18.02. Details

The technical summary data is suggesting a short of SONY if it tests 17.97 with a downside target of 17.55. We should have a stop loss in place at 18.02 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 17.97, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for SONY

• Buy SONY slightly over 17.97, target 19.38, Stop Loss @ 17.93 Details

If 17.97 begins to break higher, the technical summary data tells us to buy SONY just slightly over 17.97, with an upside target of 19.38. The data also tells us to set a stop loss @ 17.93 in case the stock turns against the trade. 17.97 is the first level of resistance above 17.695, and by rule, any break above resistance is a buy signal. In this case, 17.97, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short SONY slightly near 17.97, target 17.59, Stop Loss @ 18.01. Details

The technical summary data is suggesting a short of SONY if it tests 17.97 with a downside target of 17.59. We should have a stop loss in place at 18.01 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 17.97, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for Sony Group Corporation American Depositary Shares (SONY) available here: SONY.

SONY Ratings for October 24:

Term →	Near	Mid	Long
Rating	Weak	Weak	Neutral
P1	0	0	16.32
P2	17.38	17.55	17.86
P3	17.59	17.97	19.38

AI Generated Signals for SONY

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Don't over think it!  Trading Sony Group Corporation American Depositary Shares (NASDAQ: SONY) or any other stock can be rewarding if the simple rules of technical analysis are observed before making any decisions.  This should be an integral part of the investment process.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for SONY change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if SONY is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for SONY too.  All of these are offered below the Summary Table.