Sony is due to report earnings on Monday with the analysts forecasting an EPS of $1.02 on revenue of $17,63bn.

Sony is currently trading at around $93.76 a share. The tech company is due to report earnings on Monday with the analysts forecasting an EPS of $1.02 on revenue of $17,63bn. Taking a looking at the chart from a technical perspective, we can see that support is well established along the trendline on the weekly timeframe. The price continues with higher highs and higher lows, we saw a slight retracement in June as we had some profit-taking due to a new high within this bullish trend ($102.35). The price climbed above the 100-day moving average (red), then pulled back towards the trendline (retracement – profit taking). Week commencing July 10^th there was a bounce back of the trendline and the price is now approaching the 100-day MA once more. A break and close above it could see the price continue higher towards the high of $102.35. Towards the downside, first support level sits at $92.60 (20-day MA) then along the trendline at $91.71. A move below the trendline could see the price slide lower, although there will be support along the 50-day MA. Which currently reads $84.54. The technical indicators are mixed, MACD is slightly negative but the RSI is just positive as it reads 55.