Sony Group Corporation DCA - Inverted head and shoulders + C&H
Company: Sony Group Corporation
Ticker: 6758
Exchange: TSE
Sector: Electronics
Introduction:
Hello and thank you for taking the time to read my post. Today, we analyze the daily chart of Sony Group Corporation, focusing on an interesting combination of two price patterns, an inverted head and shoulders and a cup and handle pattern. This combination provides additional confirmation for classical chart analysts and offers a compelling trading opportunity.
Price Patterns:
Inverted Head and Shoulders: This pattern has been forming for 384 days and features a clear horizontal resistance line at ¥12,380. This serves as our reference point for the pattern.
Cup and Handle: The right shoulder of the inverted head and shoulders pattern contains a 126-day old cup and handle pattern, which provides further confirmation and a second possible price pattern. The same horizontal resistance line at ¥12,380 serves as the reference point for this pattern.
Bullish Environment:
The price has been above the 200 EMA for some time, indicating a bullish environment.
Price Targets:
Inverted Head and Shoulders: The price target for this pattern is ¥15,520, representing a potential price increase of 25%.
Cup and Handle: The price target for this pattern is ¥14,725, representing a potential price increase of 19%.
Trade Opportunity:
A breakout has occurred, making this trade actionable without further observation.
Conclusion:
The Sony Group Corporation daily chart analysis highlights the combination of an inverted head and shoulders pattern and a cup and handle pattern. This provides a compelling trade opportunity with clear price targets. As always, it's essential to consider risk management and proper position sizing when trading based on chart patterns.
Please note that this analysis is not financial advice. Always do your own due diligence when investing or trading.
If you found this analysis helpful, please like, share, and follow for more updates. Happy trading!
Best regards,
Karim Subhieh
Ticker: 6758
Exchange: TSE
Sector: Electronics
Introduction:
Hello and thank you for taking the time to read my post. Today, we analyze the daily chart of Sony Group Corporation, focusing on an interesting combination of two price patterns, an inverted head and shoulders and a cup and handle pattern. This combination provides additional confirmation for classical chart analysts and offers a compelling trading opportunity.
Price Patterns:
Inverted Head and Shoulders: This pattern has been forming for 384 days and features a clear horizontal resistance line at ¥12,380. This serves as our reference point for the pattern.
Cup and Handle: The right shoulder of the inverted head and shoulders pattern contains a 126-day old cup and handle pattern, which provides further confirmation and a second possible price pattern. The same horizontal resistance line at ¥12,380 serves as the reference point for this pattern.
Bullish Environment:
The price has been above the 200 EMA for some time, indicating a bullish environment.
Price Targets:
Inverted Head and Shoulders: The price target for this pattern is ¥15,520, representing a potential price increase of 25%.
Cup and Handle: The price target for this pattern is ¥14,725, representing a potential price increase of 19%.
Trade Opportunity:
A breakout has occurred, making this trade actionable without further observation.
Conclusion:
The Sony Group Corporation daily chart analysis highlights the combination of an inverted head and shoulders pattern and a cup and handle pattern. This provides a compelling trade opportunity with clear price targets. As always, it's essential to consider risk management and proper position sizing when trading based on chart patterns.
Please note that this analysis is not financial advice. Always do your own due diligence when investing or trading.
If you found this analysis helpful, please like, share, and follow for more updates. Happy trading!
Best regards,
Karim Subhieh
KSC
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