The nice cup and handle pattern was pointed out on May 8.(see link below) Its been a wild ride since. I took some profits at around 6 on the day is bounced. Here is a potential EWT count to me. (always subjective so I don't personally trade on it alone). IFFFF it would rise to the 27 level we would have a great "W" base. This is still a SPECULATIVE stock and as many biopharmaceuticals are. So be very careful. Encouraging daily candle so far today. If it holds up for the day a close below this candle could be used as a stop.
The rapid rise is from the statement from the company they may have a cure for Covid-19
seekingalpha.com/new...s-covidminus-19-cure
The rapid rise is from the statement from the company they may have a cure for Covid-19
seekingalpha.com/new...s-covidminus-19-cure
Initiations
With a rating of Buy, Dawson James initiated coverage on Sorrento Therapeutics Inc (NASDAQ:SRNE). The price target is set at $24.00 for Sorrento Therapeutics. Sorrento Therapeutics earned ($0.36) in the first quarter, compared to ($0.88) in the year-ago quarter. The stock has a 52-week-high of $10.00 and a 52-week-low of $1.39. Sorrento Therapeutics's stock last closed at $5.07 per share.