SRNE macro and micro 1-2 start, target 13 for wave 3

Nice looking setup for SRNE. I personally took a position with a stop under the wave 2 low, and my price target playing for wave 3 (see chart). The wave 2 low needs to hold in order for the chart to still appear bullish, otherwise, there could be potential further downside. From a fundamentals perspective, they are working on some treatment for Covid, so there is the potential for catalysts surrounding that treatment to begin to help some moves to the upside. Looking off the highs, this stock has fallen quite a bit, so definitely looking for some signs of a reversal soon.

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Copyright Rohan Karunaratne 2020