Soleno Therapeutics Inc. (SLNO) - FA and TA

The last time they raised equity capital in September 2023, their share price surge, hence, it should be this time that we will see Soleno share price rise again this week after their offering closed on 02 Oct.

In this article I will be sharing why Soleno is still attractive from Technicals side despite they have taken advantage of rising share price to raise equity capital.

With a total of more than $100 million in equity raised, I think we need to see how would the forecast return on equity for Soleno be like.

As we can see analyst are forecasting that Soleno would be having a 192.99% return over the market 58.28% by 2025.

So this stock might be for long term as therapeutics stock could be deployed as a defensive stock as well.

Soleno is currently trading way above the 50-day moving average period, there will be more upside expected from what I see.

With new capital raised, Soleno would be in a better position to do their programs.

Although ADX is currently below 40, but it is very close to go into strong trend (ADX > 40) and with a strong +DI higher than -DI, we should be seeing a bullish developing upside trend.

RSI is currently in overbought, traders and investors are looking for LONG position and there is no signs of selloff.

I would expect this trend to continue.

With a comfortable forecast return on equity, we can see that Soleno have managed to raise more than $100 million in September, with an impressive return on equity, together with a strong Technicals.

I believe we can see potential in Soleno in this week trading. This stock would make a good defensive stock against the market uncertainty and volatility.

Appreciate if you could share your thoughts in the comment section whether you think Soleno would be going higher this week given that they have raised more equity to fund their programs.

Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Analysis.