At a turning point
Updated
Today's action looked like a determined short selling attack. So it broke down out of the flag (blue lines) and closed at a backtest point of the lower blue line. However, MACD and Stochastic are turning up. Also today's volume was about 10.6 million, lowest of the week. Lots of buying at the 3.15 level, looking like a short term bottom.
SRNE is presenting several papers at the American Hematological Society conference this weekend. I expect short sellers to cover tomorrow before the weekend to limit the risk of runaway upside news.
SRNE is presenting several papers at the American Hematological Society conference this weekend. I expect short sellers to cover tomorrow before the weekend to limit the risk of runaway upside news. Note
Looking good. Back firmly in the bull flag ( blue lines). The low yesterday now a probable false breakout to the downside. This spring loads us for a jump to the upper blue line next week. Building a mini flag around the 3.45 level. Could retrace to the upper pink line, but I expect a new 52 week high within 30 days.
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