Sorrento Stock Analysis - Sorrento stock forecast today
SRNE Technical Analysis - Hold.
The Trendline and EMA (with a length of 200) has been broken giving a signal of weakness of this Market. The idea is always to invest in the trend direction (bullish), but currently there are not a lot of signals to go long.
If 7.5 USD level will not be broken in the next days, perhaps the idea is to go long, or, vice versa, if the support will be broken the idea is to go short (this option is too Risky).
FUNDAMENTAL Analysis
Sorrento Therapeutics (NASDAQ:SRNE) is one of those stocks that's kind of like a lightning rod. That's apparent from the fact that over 22% of the biotech's outstanding shares were sold short as of Aug. 14, 2020. On the other hand, there are also many investors who feel strongly optimistic about Sorrento's growth prospects.
The Trendline and EMA (with a length of 200) has been broken giving a signal of weakness of this Market. The idea is always to invest in the trend direction (bullish), but currently there are not a lot of signals to go long.
If 7.5 USD level will not be broken in the next days, perhaps the idea is to go long, or, vice versa, if the support will be broken the idea is to go short (this option is too Risky).
FUNDAMENTAL Analysis
Sorrento Therapeutics (NASDAQ:SRNE) is one of those stocks that's kind of like a lightning rod. That's apparent from the fact that over 22% of the biotech's outstanding shares were sold short as of Aug. 14, 2020. On the other hand, there are also many investors who feel strongly optimistic about Sorrento's growth prospects.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.