Sorrento Therapeutics Inc (SRNE)

[midas716]

Looks like I may start buying more on the dips. Hopefully it holds the 20ma and starts riding up with it. Looking for the 20ma 200ma cross, for first time in ages, merely weeks away if not sooner. Long term resistance is at 5.20 but it's looking like the 200ma is also resistance. IMO the PPS will squeeze between the 20 and 200 before a breakout of the 200. We are just starting Wave 2 of an Elliot wave cycle.

Possible FDA approval of the Lidocaine patch around Feb. 28, 2018 may be driving this up now. If approved and SRNE can capture even 30% of the 750m market the stock will do very well for investors long term. Last financials says they are still sitting on 58 million cash from the last round of financing which seriously drove the price down.

GLTA