Long/Short Target Ratio (SONY) – Stock Traders Daily

May 4, 2024, 10:40 a.m. ET, BY Tom S. – Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer term business plans for SONY

• Buy SONY slightly above 80.32, target 86.77 stop loss at 80.09 Details

Technical summary data tells us to buy SONY near 80.32 with an upside target of 86.77. This data also tells us to set a stop loss at 80.09 to protect against excessive losses in case the stock begins to move counter to the trade. 80.32 is the first support level below 84.54 and generally any test of support is a buy signal. In this case, support 80.32 would be tested, so a buy signal would exist.

• Short SONY slightly below 86.77, target 80.32, stop loss at 87.02 Details

Technical summary data suggests shorting SONY as it nears 86.77 with a downside target of 80.32. We should, however, have a stop loss in place at 87.02. 86.77 is the first resistance level above 84.54 and generally any resistance test is a short signal. In this case, if resistance 86.77 is tested, a short signal would exist.

Swing Trading Plans for SONY

• Buy SONY slightly above 84.63, target 86.77, Stop Loss @ 84.39 Details

If 84.63 starts to move higher, the technical summary data tells us to buy SONY just above 84.63, with an upside target of 86.77. The data also tells us to set a stop loss at 84.39 in case the stock turns against the trade. 84.63 is the first resistance level above 84.54 and generally any break above resistance is a buy signal. In this case, 84.63, the initial resistance, would be in the event of a breakout higher, so a buy signal would exist. Since this plan is based on a breakout of resistance, it is called a long resistance plan.

• Short SONY slightly near 84.63, target 83.38, Stop Loss @ 84.87. Details

Technical summary data suggests a short sale on SONY if it tests 84.63 with a downside target of 83.38. We should have a stop loss in place at 84.87 in case the stock begins to move counter to the trade. Typically, any resistance test is a short signal. In this case, if resistance 84.63 is tested, a short signal would exist. This plan being a short plan based on a resistance test, it is called a short resistance plan.

Day trading plans for SONY

• Buy SONY slightly above 84.63, target 85.01, Stop Loss @ 84.43 Details

If 84.63 starts to move higher, the technical summary data tells us to buy SONY just above 84.63, with an upside target of 85.01. The data also tells us to set a stop loss at 84.43 in case the stock turns against the trade. 84.63 is the first resistance level above 84.54 and generally any break above resistance is a buy signal. In this case, 84.63, the initial resistance, would be in the event of a breakout higher, so a buy signal would exist. Since this plan is based on a breakout of resistance, it is called a long resistance plan.

• Short SONY slightly near 84.63, target 84.19, Stop Loss @ 84.83. Details

Technical summary data suggests a short sale on SONY if it tests 84.63 with a downside target of 84.19. We should have a stop loss in place at 84.83 in case the stock starts to move counter to the trade. Typically, any resistance test is a short signal. In this case, if resistance 84.63 is tested, a short signal would exist. This plan being a short plan based on a resistance test, it is called a short resistance plan.

Check the timestamp of this data. Updated AI-generated signals for Sony Group Corporation American Depositary Shares (SONY) available here: SONY.

SONY notes from May 4:

Term →	Close	Medium	Long
Rating	Strong	Neutral	Neutral
P1	0	0	80.32
P2	84.19	83.38	86.77
P3	85.01	84.63	93.51

AI-generated signals for SONY

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This report was produced using AI developed by Stock Traders Daily. Over the past 20 years, this proprietary AI has been refined to help identify the most timely trading strategies for individual stocks and the stock markets themselves. This methodology is also applied to index options, ETFs and futures. The objective of this specific report is to optimize trading on Sony Group Corporation American Depositary Shares (NASDAQ: SONY) while incorporating prudent risk controls.

Warning:

This is a static report, the data below was valid at the time of 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 reporting.

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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 the buy signals surface support and resistance is the target. Conversely, if resistance is tested, it is a sign of risk control or short selling, and support would therefore be the downside target. In each case, the trigger point is designed to be both an ideal place to take a position (avoid trading in the middle of a trading channel) and it also acts as a level of risk control.

Swing Trades, Day Trades and Longer Term Trading Plans:

This data is refined to also differentiate trading plans for Day Trading, Swing Trading and Long Term Investment plans for SONY. All these elements are proposed under the summary table.