AMRN is Bullish. AMRN fell because of SPY drop but recovering well. Even on day where the SPY is consolidating. The trend is strong and it is above the Ichimoku Cloud, RSI is bullish
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Summary
Technical analysis
On the chart, we can see the imminent completion of corrective wave 2 and the appearance of impulse wave 3.
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Beat EPS recently. Clearly taking a long recovery from COVID. Amazing positioning if it can hold. Even if it breaks down below I would be setting up 2-3 alerts on this one.
Amarin has fallen off the cliff recent days based on the court case news. It was on the verge of a breakout before it fell. I think by end of next week, it is still likely to hit 5.3. So maybe still some gain to be done short term or atleast average out longer terms
#AMRN quick 5th wave move short on a 15 min time frame. #BITS indicator confirmed entry with stochastic crossover at the 4th wave point and retest of the 6/4 moving average line. $1.60 move on a $6 stock is a pretty darn good move!
This is not a stock I'm familiar with. My dowsing method picked it, so I'm not responsible if it's totally wrong ;) I kid.
I was thrilled to see such awesome options activity, so it has that going for it. Vol isn't crazy high either.
My research is suggesting a pretty swift liquidation in this name. I would not be long, but buy the dip whenever it comes. It may be...
21-May-20 16:10 ET
AMRN
Amarin announces trial to evaluate effects of VASCEPA on patients with COVID-19 (7.28 -0.18)
Amarin today announced support for a clinical trial to investigate the effects of icosapent ethyl (IPE) (VASCEPA) on inflammatory biomarkers and other patient outcomes in individuals with COVID-19. The trial primary endpoint is the effect of...
$AMRN
Not much to say other then this is a classic bull flag pattern that has appeared over the past few days.
I would look for price to break out of downward movement most likely eyeing $7.15 to set a buy alert.
$5.50 is a hard stop loss for me as that would indicate something is very wrong. However I did see that they just had a lawsuit settlement which is...
In terms of resistance it is practically non existent until $8.58
News releases is the issue with this stock so be careful and tight stops/
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