Updated
SRNE Stock Expectations for the week of 8/23
As of Friday, August 21st, the price neared the edge of the descending triangle it was forming, and broke the lower trendline before hitting its lowest point at 9.93. We'll have to see where price goes, if price can break through resistance at 10.52, look to buy if RSI and OBV confirm another rally, as it could possibly test resistance at 13.17. However, if price goes below support at 9.85, look to short or sell positions as its thin air till 8.27, then 7.67 from the fib retracement. Also look to see more news about the merger and updates on COVID Shield products. Happy trading.
Note
Stock broke through both supports and went as low as 7.72 before settling at 8.13. With the plasma news by Trump this was no surprise, but i believe we can see a rally in the next couple of days, as this stock had a lot of good news and a strong earnings report.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.