SRNE: wild ride. Potential huge gain. Follow up from May 8th.

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/news/3575064-sorrento-claims-covidminus-19-cure

Note

May 26th

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.

goodguy

Related publications

SRNE daily log. Another bio pharmaceutical to consider.

by goodguy

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