Sorrento Therapeutics Inc (SRNE) “On a long-term technical basis, the stock (SRNE) is trading above its 200-day moving average, but has broken through an important support level, which generally implies it is in a neutral trend.

The stock has support at 8.57 and 7.22. If the stock breaks down through support at 8.57 then it will probably continue lower to 7.22. The stock has resistance at 9.95 and 12.18. If the stock breaks up through resistance at 9.95 then it will probably continue higher to 12.18. The 200-day moving average is at 5.66. This will also act as support. The stock’s long-term uptrend has changed into a sideways or downtrend. In this case, the stock will either go sideways for a while or sell-off back to where it started prior to the latest big upmove. This is a risky time to buy the stock, so be careful. Wait for the trend to change to bullish before entering. Use caution during times like these, as the stock will be more volatile. Confirm with the TMTI Indicator, Short-Term and Immediate Outlook for help entering. The stock is neutral according to the Stochastic Indicator (56.48).”