Sony Doubled Profits

Sony (SNEclosed with a gain of 1.6% in yesterday’s trading session. The market is up pre-market with about 4% boosted by the positive earnings report. The Japanese corporation reported  459.6 billion yen ($4.4 billion) profit in July-September, up from 188 billion yen the previous year.

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The market trades around the mean of the prior balanced price range back from September and broke recently above the EMA50. Traders might lean on these distribution’s extremes to conclude potential trades while the market targets the highs from August. Might expecting open around the higher extreme of the mentioned balanced price range while absorption around the swing highs is possible.

Lower balance extreme, EMA structure, and the low area from this month might be of interest to look for potential buying patterns on the hourly perspective.

Here the recent Quarterly Income Statement for SNE as a visual chart:

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