SORRENTO THERAPEUTICS INC.

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Ticker:	SRNE
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SORRENTO THERAPEUTICS INC. - Daily - Technical analysis published on 09/12/2019 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

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SORRENTO THERAPEUTICS INC. Chart

Summary of the analysis

Trends

Court terme: Bullish

De fond: Bearish

Technical indicators

67%

28%

My opinion

Bearish under 2.70 USD

My targets

2.04 USD (-14.64%)

1.56 USD (-34.73%)

My analysis

In a bearish trend, the price of SORRENTO THERAPEUTICS INC. tries to inflate a little with a slight short-term rebound. At this stage, no trend reversal is in sight. Globally, sellers have the upper hand. Traders may allow themselves to trade short positions (for sale) as long as the price remains below the resistance located at 2.70 USD. A bearish break in the support located at 2.04 USD would revive the bearish momentum and fuel the basic trend. Then the price could move towards 1.56 USD. PS: if there is a bullish break in the resistance located at 2.70 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.

In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.

FORCE

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by Vincent Launay.

Additional analysis

Quotes

SORRENTO THERAPEUTICS INC. rating 2.39 USD. The price registered a decrease of -0.42% on the session and was between 2.27 USD and 2.44 USD. This implies that the price is at +5.29% from its lowest and at -2.05% from its highest.

2.27

2.44

2.39

A study of price movements over other periods shows the following variations:

Technical

Technical analysis of this Daily chart of SORRENTO THERAPEUTICS INC. indicates that the overall trend is bearish. The signals given by moving averages are at 67.86% bearish. This bearish trend could slow down given the slightly bullish signals currently being given by short-term moving averages. An assessment of moving averages reveals several bullish signals that could impact this trend:

Bullish trend reversal : adaptative moving average 20

Type : Bullish

Timeframe : Daily

Bullish price crossover with Moving Average 50

Type : Bullish

Timeframe : Daily

Bullish price crossover with adaptative moving average 20

Type : Bullish

Timeframe : Daily

Bullish price crossover with adaptative moving average 50

Type : Bullish

Timeframe : Daily

In fact, according to the parameters integrated into the Central Analyzer system, 12 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : Weekly

RSI indicator is back over 50

Type : Bullish

Timeframe : Daily

Aroon indicator bullish trend

Type : Bullish

Timeframe : Daily

Price is back over the pivot point

Type : Bullish

Timeframe : Daily

Momentum indicator is back over 0

Type : Bullish

Timeframe : Daily

The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:

Resistance of triangle is broken

Type : Bullish

Timeframe : Daily

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.

ProTrendLines

Price

	S2	S1	Price	R1	R2	R3
ProTrendLines	1.56	2.04	2.39	2.70	3.57	3.92
Change (%)	-34.73%	-14.64%	-	+12.97%	+49.37%	+64.02%
Change	-0.83	-0.35	-	+0.31	+1.18	+1.53
Level	Intermediate	Major	-	Intermediate	Minor	Intermediate

To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1.97	2.07	2.23	2.33	2.49	2.59	2.75
Camarilla	2.33	2.35	2.38	2.40	2.42	2.45	2.47
Woodie	2.01	2.09	2.27	2.35	2.53	2.61	2.79
Fibonacci	2.07	2.17	2.23	2.33	2.43	2.49	2.59

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1.81	1.91	2.02	2.12	2.23	2.33	2.44
Camarilla	2.08	2.10	2.12	2.14	2.16	2.18	2.20
Woodie	1.83	1.91	2.04	2.12	2.25	2.33	2.46
Fibonacci	1.91	1.99	2.04	2.12	2.20	2.25	2.33

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1.08	1.56	1.83	2.31	2.58	3.06	3.33
Camarilla	1.90	1.97	2.04	2.11	2.18	2.25	2.32
Woodie	0.99	1.51	1.74	2.26	2.49	3.01	3.24
Fibonacci	1.56	1.84	2.02	2.31	2.59	2.77	3.06

Numerical data

The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators

Moving averages

RSI (14):	56.67
MACD (12,26,9):	-0.0300
Directional Movement:	7.73
AROON (14):	42.86
DEMA (21):	2.16
Parabolic SAR (0,02-0,02-0,2):	2.02
Elder Ray (13):	0.14
Super Trend (3,10):	2.47
Zig ZAG (10):	2.39
VORTEX (21):	1.0500
Stochastique (14,3,5):	78.43
TEMA (21):	2.24
Williams %R (14):	-11.36
Chande Momentum Oscillator (20):	0.29
Repulse (5,40,3):	9.8500
ROCnROLL:	-1
TRIX (15,9):	-0.4900
Courbe Coppock:	1.35

MA7:	2.20
MA20:	2.19
MA50:	2.35
MA100:	2.89
MAexp7:	2.26
MAexp20:	2.23
MAexp50:	2.42
MAexp100:	2.69
Price / MA7:	+8.64%
Price / MA20:	+9.13%
Price / MA50:	+1.70%
Price / MA100:	-17.30%
Price / MAexp7:	+5.75%
Price / MAexp20:	+7.17%
Price / MAexp50:	-1.24%
Price / MAexp100:	-11.15%

News

Don"t forget to follow the news on SORRENTO THERAPEUTICS INC.. At the time of publication of this analysis, the latest news was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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