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On Monday, Sony added 4% in its most recent session, touching nearly nine-year high of 4,291. Investors helped the stock as they saw an opening on the company’s success on its PlayStation 4 sales.

Sony shares soared due to the new Spiderman game and other PS4 Videogames that were teased on the recent Electronic Entertainment Expo. Sony placed third on the Tokyo Stock Exchange.

Share prices of Sony has been one of the things that burdened the company as a whole and it took a while for the sector to take on the driver seat and direct it to its current earnings success. Since 2008, the gaming sector has suffered a major lost amounting beyond $898 million. Also on that fiscal year, Sony only accumulated around 4 million dollars.

In 2013 however, PS4 sales boomed as the console took the mainstream spotlight. The console’s high-tech graphics was praised and was one of the reasons as to why it sales grew.  Additionally, the current game sector is estimated to record an amount of 170 billion in profit not only from the video game sales but also the PlayStation Plus content subscription service.

Masaru Sugiyama of Goldman Sachs told reports that PS4’s enhanced software lessened the risks in downloading and is expected to maintain such improvement until the next fiscal year. However, PS4 sales are estimated to 10% decline in this current year. Strategists also expect that a decline can also occur in the coming year. 

Sony in response looks to maintain its trending performance in its trades as it plans to further enhance its PlayStation Plus service.

The video game industry is currently a hot battlefield in terms of trading. With this, shareholders will likely emphasize on other trending stocks such as Nintendo with its Switch sales booming and Microsoft which is set to release a console on November.

Christmas Sales Expectation

Sony representative, Jim Ryan has recently told reports that the company is expecting to be in a “positive inventory situation” in this year’s Christmas season. In the same period, Sony expects sales to jump as it also looks to sell more Play Station 4 Pros.

 Ryan also revealed that the company did not expect the demand to be massive that the company faced a lot of stock shortage over the past periods.

 “It is only now that it is starting to come back into free supply, and only now are we really getting a sense of things,” Ryan specified further “broadly speaking, 40 percent of Pro customers are people who are upgrading their existing console but the supply constraint has been a distortion when making estimates.”

More so, Ryan was positive for the next period. Uncharted: The Lost Legacy and Gran Turismo Sport will be released soon and these games are expected to help Sony’s sale improve within the timeframe.

As for the big rivalry in the video game sector, Sony believes that the Xbox One X of Microsoft and Nitendo’s comeback is something positive for the growing gaming commerce overall.

Trading Performance

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In the New York Stock Exchange, Sony traded higher by adding 1.31 to 3.51% at the time of writing. Sony opened at 38.50 and concluded at 38.64 with a high of 38.81. The stock had no lows.

 The stock’s RSI level has just surpassed the 70’s range and is specifically at 72.92 while its Coppock Curve was seen inching a bit lower at 6.64 – a positive range recommending a buy position for the pair.

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