SONN Technical Analysis - SONNET BIOTHERAPEUTICS HOLDI

Technical Rating and Analysis

We assign a technical rating of 2 out of 10 to SONN. In the last year, SONN was among the worst performers in the market. Also the short term picture is negative, the medium term is unclear at the moment.

95% of all other stocks performed better in the past year than SONN.

SONN is part of the Biotechnology industry. There are 536 other stocks in this industry, of which 79% are performing better than SONN.

SONN is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.

In the last month SONN has a been trading in the 3.62 - 7.25 range, which is quite wide. It is currently trading near the lows of this range.

Prices have been falling strongly lately, it is better to avoid new long positions here.

The short term trend is negative, but the long term trend is still positive. So although the long term is still positive, this may be a trend turning.

Considerably lower volume is observed in the last couple of days.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

SONNET BIOTHERAPEUTICS HOLDI / SONN Weekly stock chart

SONNET BIOTHERAPEUTICS HOLDI / SONN Daily stock chart

Setup Rating and Analysis

The technical rating of SONN is bad and it also does not present a quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

3.08

6.70

When analyzing the support we notice one important area.

Support @3.11 from a trend line in the daily time frame.

6 important resistance areas can be observed.

A resistance zone ranging from 3.72 to 3.74. This zone is formed by a combination of multiple trend lines in multiple time frames.
Resistance @4.44 from a trend line in the daily time frame.
Resistance @5.64 from a trend line in the weekly time frame.
Resistance @6.06 from a trend line in the weekly time frame.
Resistance @6.18 from a horizontal line in the weekly time frame.
Resistance @6.63 from a trend line in the daily time frame.

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What is Support and Resistance

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	UP	POSITIVE	The long term trend for SONN is up.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for SONN is down.
ChartMill Relative Strength	5.16	NEGATIVE	SONN has a low relative strength, it was outperformed by 94.84% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of SONN is below a declining SMA(20).
Simple Moving Average/SMA (50)	UP	MIXED	The current price of SONN is below the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of SONN is above the rising SMA(200).
Relative Strength Index/RSI (14)	38.89	NEUTRAL	The RSI value for SONN is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.24	NEGATIVE	The MACD value suggests SONN has a negative trend.
Stochastics (14,3)	4.68	OVERSOLD	The low Stochastics value suggests SONN may be oversold.
Average True Range in percent/ATR (20)	19.38	HIGH VOLATILITY	The high ATR as a percentage value for SONN suggests high volalility.
Average Directional Index/ADX (14)	20	NEUTRAL	The ADX value for SONN suggests a possible start of a new trend.