Sorrento Therapeutics post Zenith. SRNESpeculating end of A Wave, now in the beginning of an Elliott triangle or a variation of ABCDE pattern. Bearish. Early stage of pivot if real, as none of the volatility, parabolism, volume weight indicators have caught up yet. And it shows - I have not bothered to wait for confirmation. Agressive stance therfore.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe.
Sorrentotherapeutics
SRNE Start new rallie?I think that in final of August SRNE start a new rallie, I hope that start early than I think.
On the graph you can see my prediction lines :
Red -> Resistance that if overcome will become support.
Orange -> Our resistance lines that we try to broke, I think that will broke the bearish trend almost late Agust, September 1th and we take over the line of 9,5$ resistance. 9,5$ will pass to do our support.
Yellow -> Our bulish trend and our major resistance and support lines.
At that moment we will have a Golden Cross if the trend remains bullish, in addition the MACD indicator seems to want to turn around.
God luck to all!
SRNE News....Key AreaThis could be an important area for SRNE right now. You've got Fibs and major moving averages all converging at the same point. News today:
"Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento"), a clinical and commercial stage biopharmaceutical company developing new therapies to treat cancer, pain and COVID-19, announced today the availability of a presentation on its corporate website to provide an overview of Sorrento’s proprietary mRNA vaccine development program for COVID-19."
The presentation can be viewed at: investors.sorrentotherapeutics.com
Funny to think this was just a penny stock not that long ago:
Sorrento Therapeutics Inc. (SRNE Stock Report) is actually still one of the popular stocks on Robinhood this month. Compared to where it was trading in March, 2020, SRNE stock is trading at levels night and day different this month. In fact, SRNE stock hasn’t been considered a penny stock since the end of June. The range has gone from lows of $1.55 to highs of $19.39 so far.
Quote Source & Read More: Are Penny Stocks Worth It? 5 That Hit It Out Of The Park In 2020
