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SRNE - Sorrento Therapeutics

Industry: Biotechnology Sector: Healthcare Exchange: NASDAQ

SRNE - Sorrento Therapeutics

Industry: Biotechnology Sector: Healthcare Exchange: NASDAQ
#538()/6711

Fri 23'rd Feb 2018

PERIOD 2017-11-24 - 2018-02-23
USER PREDICTION
$10.03
CHANGE 8.33%
PRICE $9.10
VOLUME
Sell
TREND
Buy

MV LONG
Buy

MV SHORT
Buy

PIVOT
Buy

MACD
Sell

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Sorrento Therapeutics Stock Analysis

Technical stock analysis for Fri 23'rd Feb 2018

Shorts 1.01% ( 2018-01-31 )
Cash 212.2 mill
Loans 126.9 mill
Beta 2.70
ROA -5.45
Buy candidate since 2017-12-28 Gain 149.32%

Sorrento Therapeutics gained 8.33% in the last trading day, rising from $8.40 to $9.10 The price has risen in 7 of the last 10 days and is up by 29.08% over the past 2 weeks. Volume fell in the last day by -0.80 million shares, and in total, 2.31 million shares bought and sold for approximately $20.99 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.

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Trend

Sorrento Therapeutics lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 307.99% during the next 3 months and, with 90% probability hold a price between $32.36 and $41.47 at the end of this period.

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Signals

Only positive signals in the chart today. Sorrento Therapeutics holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $8.77 and $7.02. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday February 22, 2018, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.

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Relative Strength Index (RSI)

RSI14 is 63 and the stock is currently not being overbought or oversold

Access full RSI 14 and RSI 21 lists

Support & Resistance

Sorrento Therapeutics finds support from accumulated volume at $9.05. There is no resistance from accumulated volume above today's level and given the right condition the stock may perform very well during the next couple of days.

Support: $9.05 Price: $9.10

Risk

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 $0.60 between high and low, or 7.06%. For the last week, the stock has had a daily average volatility of 7.29%.

Our recommended stoploss: $8.71 (-4.32%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from pivot bottom found 1 days ago.)

Overall risk:

Very Low Low Medium High Very High

Evaluation

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term.

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