Sony Corp (:SNE) has reached overbought status with a 14-day RSI of 84.83.
The Relative Strength Index (RSI) is a very common technical indicator used to evaluate strengthening and weakening momentum in price action. An RSI above 70 is considered overbought and stocks are considered oversold at levels under 30. Overbought is a technical condition that occurs when prices are considered too high and susceptible to a decline.
Sony Corp’s stock has a beta of 1.78 meaning it is higher in volatility than the market overall which by definition has a beta of 1. Stocks with a beta lower than the market are less risky than the market and those with a higher beta are more risky than the market over the long haul.
The stock’s Average True Range (ATR) is sitting at 0.89. The ATR is an indicator of volatility. It can’t tell you the direction of the stock but indicates how likely the price is to change.
Traders are a little more bearish on Sony Corp recently if you consider the rise in short interest. The stock recorded a rise in short interest of 17.38% between September 29, 2017 and October 13, 2017. Short interest increased from 844,662 to 991,504 over that period. Days to cover increased from 1.0 to 2.0 and the short interest percentage is 786,907.94% as of October 13.
Recent Analyst Ratings
On September 11 the company was changed to “Neutral” according to a Citigroup report down from the previous “Buy” rating.
The company’s P/E ratio is 25.54 and the market cap is 56.46B.
Sony Corporation (Sony), launched on May 7, 1946, is involved in the development, design, manufacture and sale of various kinds of electronic equipment, instruments and devices for consumer, professional and industrial markets, as well as game consoles and software. The Business’s segments include Mobile Communications (MC), Game & Network Services (G&NS), Imaging Products & Solutions (IP&S), Home Entertainment & Sound (HE&S), Devices, Pictures, Music, Financial Services and All Other. Sony is involved in the production, acquisition and distribution of motion pictures and television programming and the operation of television and digital networks. Sony is also engaged in the development, production, manufacture and distribution of recorded music and the management and licensing of the words and music of songs. It is also engaged in various financial services businesses, including life and non-life insurance operations, through its Japanese insurance subsidiaries and banking operations through a Japanese Internet-based banking subsidiary. In addition, Sony is involved in a network services business and an advertising agency business in Japan. The Business’s manufacturing facilities are located in Asia, including Japan. Sony also utilizes third-party contract manufacturers for certain products..