Sorrento Therapeutics Stock Analysis
Technical stock analysis for 18 January 2019
Sorrento Therapeutics gained 1.32% in the last trading day, rising from $2.27 to $2.30 The price has fallen in 6 of the last 10 days and is down by -10.85% for this period. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 0.07 million more shares were traded than the day before. In total, 1.30 million shares bought and sold for approximately $2.99 million.
Close price at the end of the last trading day (Friday, 18th Jan 2019) of the SRNE stock was $2.30. This is 1.32% more than the trading day before Thursday, 17th Jan 2019.
During day the stock fluctuated 4.48% from a day low at $2.23 to a day high of $2.33.
30 day high of the SRNE stock price was $2.91 and low was $1.95.
90 day high was $4.56 and low was $1.95.
52 week high for the Sorrento Therapeutics - $10.65 and low - $1.95.
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 -32.59% during the next 3 months and, with 90% probability hold a price between $1.08 and $2.07 at the end of this period.
A buy signal was issued from a pivot bottom point on Tuesday January 15, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $2.34 and $2.61. A break-up above any of these levels will issue buy signals.
Relative Strength Index (RSI)
RSI14 is 45 and the stock is currently not being overbought or oversold
Support & Resistance
Sorrento Therapeutics finds support from accumulated volume at $2.23.
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 $0.10 between high and low, or 4.48%. For the last week, the stock has had a daily average volatility of 7.94%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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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.