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SNE

Posted by StockBuz on June 10, 2014 at 7:56am in Long Setups

As they work to expand their entertainment division, (See more on who is winning the gaming war at Forbes) Sony will begin selling it's set-top Playstation box (called Vita-tv in Asia) in the U.S. this Fall for a mere $99 which will compete directly with Amazon's Fire-TV streaming movies, programs and Playstation3 games from the Playstation store.  They also said they'll be releasing a white version of Playstation4 this Fall.  See more at Reuters

The weekly chart had definite divergence the end of 2013 and is now perched at its 50week SMA.  It should be noted the monthly chart holds the same divergence, although now shown here.

I believe the $15 level will now hold and will begin accumulating shares down at this level with a stop 3% below $15.  Overall risking my typical 10%  Others may wish to wait and watch for a more transparent setup or base to be formed.

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Tags: sony, sne, playstation, amazon, fire-tv, playstation 3, sony stock, vita-tv
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