Tue 14'th Aug 2018
Sorrento Therapeutics Stock Analysis
Technical stock analysis for Tue 14'th Aug 2018
|Shorts||9.91% ( 2018-07-31 )|
Sorrento Therapeutics fell by -4.67% in the last day from $5.35 to $5.10 and has now fallen 4 days in a row. The price has fallen in 6 of the last 10 days and is down by -8.93% for this period. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -9 975 shares and in total 961 463 shares bought and sold for approximately $4.90 million.
Sorrento Therapeutics lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -27.84% during the next 3 months and, with 90% probability hold a price between $3.32 and $4.74 at the end of this period.
There are few to none technical positive signals at the moment. Sorrento Therapeutics holds sales signals from both short- and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up there will be some resistance from the lines at $5.32 and $6.20. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Thursday August 09, 2018, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSI14 is 38 and the stock is currently not being overbought or oversold
Support & Resistance
Sorrento Therapeutics finds support from accumulated volume at $5.05.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.40 between high and low, or 7.92%. For the last week, the stock has had a daily average volatility of 6.51%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
Very Low Low Medium High Very High
Sorrento Therapeutics holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.Click for Top 5 Sell Candidates
|Get a PRO membership|
To Reveal Top 5 Sell Candidates
Follow Auto Portfolios gaining up to 30%.
Disclaimer: There is no guarantee against any loss. Your capital is at risk.
Click to become a PRO member