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SRNE

SRNE: is the correction about over????Here is my best guess of what is going to happen. Using EWT: If we are in way (4) it should not go below the wave (1) level. If we are in wave 2 of (3) it could go below wave (1) but usually by not a whole lot. If you see the current down trend channel as sort of a bull flag you want to way till price action move about the upper down channel line. Notice on the 4 hour chart even though the RSI is low, the price is above did not go down as much forming a positive reversal which also doesn't always work but is encouraging. The rectangle is based on wave c of the correction often having a Fibonacci relationship to wave a, such as 1x, .62x or .5x. Hopefully this will help you plan your next move. Take care. RMEMBER: At least in my hands the EWT is often wrong as there are always many ways to see these complex charts PLUS all predictions are always your best guess AND no one is always correct. SO: process your way. Here is a bullish analysis from Seeking Alpha is you are interested. seekingalpha.com
SLong
by goodguy
1
Sorrento Stock Analysis - Sorrento stock forecast today SRNE Technical Analysis - Hold. The Trendline and EMA (with a length of 200) has been broken giving a signal of weakness of this Market. The idea is always to invest in the trend direction (bullish), but currently there are not a lot of signals to go long. If 7.5 USD level will not be broken in the next days, perhaps the idea is to go long, or, vice versa, if the support will be broken the idea is to go short (this option is too Risky). FUNDAMENTAL Analysis Sorrento Therapeutics (NASDAQ:SRNE) is one of those stocks that's kind of like a lightning rod. That's apparent from the fact that over 22% of the biotech's outstanding shares were sold short as of Aug. 14, 2020. On the other hand, there are also many investors who feel strongly optimistic about Sorrento's growth prospects.
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by Mauriello
1
SRNE - Sorrento Stock AnalysisTechnical Analysis - Hold - The idea would be to go long, but just wait the end of the price retracement before going long Fundamental Analysis: Shares of Sorrento Therapeutics (NASDAQ:SRNE) rallied on Thursday after the biopharmaceutical company said it would take action against an organization it claims fraudulently attempted to manipulate its stock price. As of 3 p.m. EDT, Sorrento's stock was up 5% after rising as much as 16.6% earlier in the day.
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by Mauriello
2
SRNE: short term update. Possible correction just ahead. On the 15 minute chart from today you see a little triangle. If price jumps up out of this it may well go to the next resistance line at .618 around 17.30. This is at the mid line of the channel which can also sometimes act as a resistance point. IFFFF my EWT count is correct we may get a 3rd wave consolidation after this or possible this could be a top. So watch for a possible reversal candle pattern or up line break in the next couple of days. All predictions are just a guess. So:Process your way.
SLong
by goodguy
3
SRNE Race for the "cure"I'm not of the belief a cure is really what we are going after as much as a viable treatment and potentially high likelihood of preventative protection from said virus that has changed the way we function as a living, breathing society. Off from that soapbox, SRNE had quite a windfall for some on board a couple weeks back when they made announcements of antibody treatment. On May 15, 2020, Sorrento announced that it had discovered an antibody that had "demonstrated 100% inhibition of SARS-CoV-2 virus infection" Apparently, some stockholders found this misleading and are now suing SRNE, for what it's worth. Either way, something to keep an eye on and a few possibilities I see unfolding in the short term. Keep an eye on the trends and where they break for any clear signals. Do not take as your own personal financial advice.
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by CRYPTOG00N2M00N
SRNE: wild ride. Potential huge gain. Follow up from May 8th. The nice cup and handle pattern was pointed out on May 8.(see link below) Its been a wild ride since. I took some profits at around 6 on the day is bounced. Here is a potential EWT count to me. (always subjective so I don't personally trade on it alone). IFFFF it would rise to the 27 level we would have a great "W" base. This is still a SPECULATIVE stock and as many biopharmaceuticals are. So be very careful. Encouraging daily candle so far today. If it holds up for the day a close below this candle could be used as a stop. The rapid rise is from the statement from the company they may have a cure for Covid-19 seekingalpha.com
SLong
by goodguy
I've mostly stayed away from penny stocks in 2020 but......this looks so tempting. I've never really tested my custom alerts on penny stocks so we are going to see if it works on NASDAQ:SRNE . Target price is $6.75+ according to the daily chart. I'm buying one option spread tomorrow (strangle to be specific) and that's it. It's a pure spec play and test. also, tiny position but i'm excited to see if it will work! I might be wishing I did more options in it.
SLong
by Strategic_Option_Trading
SRNE Trading Between an Upward ChannelIt looks like SRNE is trading in between the Upward Channel Line and Lower Trend Line. If you check this chart out on a 1 Minute time frame it will show in better detail. All it will take is one good news article from the company and the price will shoot up above the Upward Channel Line and take off from there. For now, it looks like it will be trading between this channel. There is strong support at the $5.05 as proven by today when it bounced off numerous times before going up in the last hour of trading. I don't believe this is a pump and dump stock because Mount Sinai a well known hospital partnered with Sorrento after doing due diligence and must have seen good results to partner and put their own name/reputation in jeopardy. If it was just Sorrento alone making claims of a 100% cure then I would be concerned with today's price. I believe we are consolidating from the $10 jump that happened recently. Wheres my bulls at?
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by BearsVSBulls
2
SRNE BIG BIG VOLUME!SRNE closed up 158.02 % and went another 3.99 % in After Hours for an AH close at $7.03 and had a HOD of $9.00. The thing that caught my eye the most was the incredible surge in volume. SRNE had 506 million volume on Friday slightly exceeding the volume from the last 80 trading days combined. Normally here, I would be expecting a pull back but I cannot ignore the volume and the AH close over $7. Look for break of HOD ($9.00) for confirmation of possible massive continuation. Would like to see it hold over $7 and break over $8.12 in pre market for a sign of monster strength. I am very bullish on this over $9 with PT's of $12 and $14. Will it keep going? Monday should be interesting. DISCLAIMER: I AM NOT A FINANCIAL ADVISOR NOT FINANCIAL ADVICE NOT A RECOMMENDATION TO BUY
SLong
by UnknownUnicorn6673904