This post was just published on ZYX Buy Change Alert.
Sorrento Therapeutics (SRNE) was purchased at $4.43 on Friday. It traded as high as $10.60 in the pre-market today. The stock has backed off to $9.02 as of this writing. All subscribers should have taken partial profit or profits on the entire position based on personal preference. There is a controversy about the treatment from Sorrento Therapeutics. Some claim that it is a total fake while others have very high hopes. For this reason, those deciding to hold on to a partial quantity may consider raising the stop to the zone of $6.38 to $7.43. The high end of the second target zone has been $12 but if there is a short squeeze, this stock can go to $18 to $24. Also be aware that if there is a confirmation that the treatment is not real, the stock can be halted and may open around $4 or lower. Your stops will not protect you in this scenario. For this reason it is important to follow Arora’s 14th Law of Investing and Trading: To be successful at investing and trading, become a master of position sizing.
CORONAVIRUS: A NEW IDEA ON SORRENTO THERAPEUTICS ON ANTIBODY BREAKTHROUGH
Fox News is saying that Sorrento Therapeutics (SRNE) has achieved an antibody breakthrough. The risk in this trade is that the report has not been confirmed by other sources. This is a high risk high reward situation, for this reason it is suitable only for super aggressive investors. The buy zone is $3.80 to $4.67. It is trading at $4.43 as of this writing.
The maximum recommended quantity is 20% of full core position size. The stop zone is $2.58 to $2.88. The first target zone is $5.88 to $6.98. The second target zone is $8.40 to $12.
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