6758 trade ideas
SONY must break its ATH or lose up to 50% value.The previous attempt a year ago ended at 6973, just a couple Yuen shy of the 7010 high. This scenario is very unusual and could end badly for the stock if it fails a second attempt. But there's good news.
On the 'daily' chart you'll see a clear ' diamond continuance ' formation which started on July 8th and ended around August 28th. This rare formation is an indication for volume-backed support. Having said that, the stock is likely to touch (and slightly break) the ATH, then temporarily reverse to the 14MA (to recharge), before ultimately running for a definite breakout above the ATH (right around the PlayStation 5 release date).
Failing to do any of that would send the stock back towards the 'monthly' 125 moving average and lower. Succeeding in breaking the ATH will send the stock towards 9000+ in "no time".
Insomniac Games Acquired by SonyThe Japanese company Sony announced on Monday that it would buy Insomniac Games. As a result, this will make Insomniac the 14th internal studio under the Sony Interactive Entertainment banner.
However, the firm has not yet closed the financial terms of the acquisition. And also, it did not give any information about it.
Shawn Layden is the chairman of Sony Interactive Entertainment Worldwide Studios. Then, Layden stated, “Insomniac Games is one of the most highly-acclaimed development studios in the industry.”
And he also pointed out the video game developer’s legacy of the best-in-class storytelling, and its gameplay is exceptional. According to the chairman, for years, they enjoyed a powerful collaborative partnership with the studio. And now, they will officially welcome them to be part of the Worldwide Studios family.
“The addition of Insomniac Games to SIE WWS reiterates our commitment to developing world-class gaming experiences,” Layden added. And this is only available on the PlayStation platform.
In addition to that, Insomniac Games founder and CEO Ted Price announced that the firm has now greater opportunities after joining the WWS. And it will help them achieve their vision of creating positive and lasting impressions on the lives of people.
Price stated, “We’ve enjoyed a special relationship with PlayStation practically since our inception.” The CEO also showed how excited they were in this latest move for their growth with WWS partners. Above all, they aim to give fresh and new experiences for the fans.
“Our partnership amplifies our potential, and Marvel’s Spider-Man was a testament to this,” Price added.
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Sony: Weekly 3-drive pattern completed at ATHSony completes a 3-Drive formation into the last ALL TIME HIGH from 2007. Can it get any better with the PS4 getting long in the tooth and smartphone shipments slowing down?
Also check out the massive SSR level set at 5,400 first set in 2006 which holds till today.
