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Okay, now tor the good part. The cabal needs to cover. Yesterday's PR was the cryptic signal that will set off a short covering rally that lifts the share price to 4.50 (Denner's buy in basis) rather rapidly. This will occur in conjunction with a succession of positive PRs.
Unlike past management, Denner is crafty and understands TA! His ensuing profitable trade will mirror the previous descent from the high of the year.
Nibbling long here. If Denner can't close the gap, shorty might throw in the towel here based on today's PR.
Oh my... another bearish pattern has developed.
Despite the enthusiasm on this board last week along with the 'hope' that resistance would be taken out and finally a bottom would develop, last week's price action managed to usher in a new weekly low since the first week of January.
To make matters worse, a new descending triangle has traced on the daily line chart.
Once again, WS scanners will pick up AMRN in the "new weekly lows" category. The bearish daily pattern sitting on top of the 1/6 breakaway gap makes this a juicy short trade with a very favorable reward/risk ratio.
That's the bad news.
As for good news... A $1.28 gap fill seems like a good place for Denner to act. A good target to cover if you are short. Timed with a positive PR, this could provide a nice pivot point that breaks further lows and sets the stage for his resurrection tour.
Previous management was inept at timing PRs. Perhaps Sarissa's TA skills will enable them to amplify price moves with strategic timing of PRs.
Oh my.... AMRN no longer moves in synchronicity with the IBB like it is supposed to. Take a look:
The disconnect began on 3/24/2023.
This shows the strength of the bears, who have been able to snuff out any and all rally attempts, even on a very strong day for the general market/biotech index. The stock remains very weak.
On March 23rd I answered an identical statement by you
Michael,
That's an impressive use of acronyms. Very tough dude.
You are 'alwayswatching' but "never seeing" the pitfalls and wealth destructive power of bearish TA indicators. In stead, you hope and hope and hope until the stock gets delisted.
That's impressive "investing"! Keep on believing.
P.S. Do you happen to be room mates with 'knownothing'?
sore
"Circumstantial evidence".
I outlined exactly what would happen - beginning with the squeeze price pattern runup, then the triple top, followed by the descending triangle breakdown and here we are... right on top of the gap with a complete round trip trade in the dust since Yee's phony upgrade. Somebody made a lot of money manipulating share price at retail shareholder's expense (especially those who added 24,000 shares on the proxy win news). I can't imagine they did it at Sarissa's expense too. In fact, I'm almost certain they were in on the orchestration / execution of this take down.
You all are so naïve thinking it can't happen... hahaha.
The Triple Top and Descending Triangle patterns have both reached their downside target as the price continues to slump.
IMO, we will see Denner come out of his cave and make a PR move once the price reaches 1.28 = representing a fill of the 1/6/23 gap. This is where he'll likely commence a cover operation, leading to base building.
As you can see from the chart below, the bullish price squeeze breakout on 1/6 sucked a lot of hopeful bulls onto 3 spikes above falling resistance. WallStreet then picked up the slip below the 200MA and Descending Triangle breakdown which further hammered prices lower.
The next magnet below is the gap. That should produce a halt to lower levels. If not, a potential new low will be in play.
Oh boy.... AMRN closed below the all important 200day moving average for the first time since 1/9/23. Folks, this is not good. Why? Because this stock has confirmed a slip off a cliff. Wall Street scanners that use TA search patterns will pick this up, smell blood and gang pile the price lower in the days to come.
Whenever you see delayed big blocks added to the tape AH it's not good - especially when such a horrible TA mis-step occurred during the main session. Someone lost faith in this important level of support.
Man if one could only have known this would happen ;) Actually... only 1 did.
We are .02cents away from the Triple Top Target for those who are following.
Foe. These are big block 'Dark Pool' trades. They're not known to the public until after execution which can sometimes take all day. Usually in small stocks like AMRN, this is released to the delayed consolidated tape after hours so as not to upset normal trading which could prevent the seller from executing at desired price if their activity were known to the public.
Agree, but unfortunately much of that demand will come from OTC "fish oil". They'll make a killing.
Amarin has done a horrible job at making the health benefits/risks (between the two meds) broadly known.
I predict that if BRAVE shows efficacy, all the DHA laden drugs will be resurrected and once again compete with V. Though DHA has a harmful effect on the cardiovascular system, it has a beneficial effect on the brain - and the public will be led to only care about that.
Amarin needs to be sold prior to BRAVE results to stave off the hyenas (generics, lovaza, OTC) and capitalize on this potential indication.
They needed to enable approval to open the door for generic robbers to destroy Amarin's profit potential.
Did you notice the plunge in the share price the day of approval? This was in preparation for stage 2: DU. The rest is history.
You can thank Denner's "Three Black Crows" ;)
You are truly missing the real problem... it's FIAT!!
SVB telegraphed what was coming:
SVB's chart looks very similar to the AMRN long term chart.
Apparently, their management operates the same way too.
12 days ago (on Feb 27th), Gregory Becker, the CEO of Silicon Valley Bank, sold $3.6 million worth (11%) of his shares...
Daniel Beck, the CFO, sold 32% (around $600,000) of his holdings...
And finally, CMO Michelle Draper sold 28%...
Additionally, Silicon Valley Bank on Friday paid out annual bonuses to eligible U.S. employees, just hours before the bank was seized by the U.S. government. (- Dan Primack
, author of Axios Pro Rata)
Lol? Contrarian indicator? Haha, I guess you also think the share price “isn’t real”.
What’s laughable is how you have incessantly ignored every chart I’ve shared that highlighted the down trending spiral beneath the ice line.
“Lol” all you want, it’s your money.