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Sorrento Therape Up on Heavy Volume in Possible Trend Reversal (SRNE)

By Amy Schwartz

Sorrento Therape shares are trading on heavy volume today, having risen 4.3% to $6.10. Approximately 804,000 shares have changed hands today vs. average 30-day volume of 304,000 shares. Spikes in volume can validate a breakout or signify a potential turning point.

SmarTrend recommended that its subscribers protect gains by selling shares of Sorrento Therape on March 23rd, 2018 by issuing a Downtrend alert when the shares were trading at $7.18. Since that call, shares of Sorrento Therape have fallen 18.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, Sorrento Therape share prices have been bracketed by a low of $1.50 and a high of $10.65 and are now at $6.08, 305% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 3.5% while the 50-day MA has advanced 0.9%.

Keywords: unusual volume sorrento therape

Ticker(s): SRNE