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Bless you mah boy. Could we be so lucky to encounter that opportunity soon?
Thanks for putting up the good fight!
FFS
Michael, Only red on my screen whats holding us back
Sellers... but they're drying up. IBB getting a late day push
Mr main, sorry I don't know what to tell ya. For some, the arrow means BO, others, FO
Anna, yes. I can't express enough how V has helped with sleeping disorders, as well as nocturnal bruxing. My wife's TMD has disappeared. She is 10yrs in remission, on tamoxifen and has only been able to sleep 3 hr per night. Since taking V, that sleep has doubled.
I'm wondering if V could have a beneficial effect on sleep apnea?
Pleasant little pleiotropic benefits like this justify the full retail price we pay.
BC, of course you would think this way. If you’ve never capitalized on a TA setup like this one, you cannot appreciate the pure price action - based simply on a price squeeze across stop-loss boundaries that ignites rallies up to new price ranges. In AMRNs case, there is an air pocket between 3.85 to 4.50 (where no trades exist for the past 10 years). If this pattern breaks to the upside (without any ‘drivers’ except fund posturing for the New Year), stop-losses will be triggered and we will see this zone reached where price movement can occur lightning fast (think the opposite of ‘flash crash’).
The 50-day EMA turned up on 3/31/2016 and prices have honored this rising support ever since – in spite of the decision to continue the trial. What reason (besides a lack of ‘drivers’) could justify (besides a market crash) this level failing, giving way to the mid $2 level? Your position helps to demonstrate the deception associated with apexification of price action on low volume in squeeze patterns. You perceive it as weakness; I see enormous energy building that is likely to be unleashed with or without news. You better buy back your trading shares while they’re still cheap;)
Yes DR. The two are identical patterns with one exception:
A. Both were squeezed into apexes forcing shorts to cover into upside breakouts
B. Both digested gains via higher lows to form ascending triangles
C. Strong upside breakout (FCH) and follow through as shorts capitulate and longs jump on the momentum train.
Notice, FCH is a daily chart, AMRN is weekly. Weekly patterns are much more reliable, last longer but take longer to develop.
Here is how the daily AMRN chart compares:
Nice find DR. This gives a glimpse of what's coming around the corner.
FFS
#2 contest stop, February 28, May 30, 47%
Freak, thank$ for being part of the 'wall of worry' the market is climbing.
JL, "To the top top, toppermost of the pop, pop, poppermost"...
I wonder what they were smoking?...LOL.
They got their alright (with a little help from their friends). Hope we do too.
That's awesome, thanks!
RAF, quote: FLYFISH - you wrote: "it hardly looks like lower prices will follow"
It appears that the lower prices did follow and are following. Can you please let me know what went wrong with TA?
Nothing ?
Nothing :) you apparently are confused between up vs down
Raf,
Thanks JL,
I appreciate you not piling on.
I honestly think there are many on this board that would rather lose money versus seeing a favorable outcome for any one of my charts. Can you imagine if I showed up to the Vegas reunion? LOL (I would be greeted with some serious hatred)
This past week I’ve been called: a cartoonist with classic graphics of monkeys set in some ancient landscape, an author of plagues of plaque ruptures of Biblical proportions. One who threatens the varsity players with pom-poms / cheerleading, out of gas with 3 flat tires, over confident in my prediction, a pumper, and a great contrarian… with thin skin.
Can’t wait to see what next week has in store.
Best,
FFS
Zip, agree with you for most part, however - if interpreted correctly - all TA should reflect the same message. Rarely do you get conflicting signs. For example if price sags towards multiple forms of support (50% retrace, price congestion levels, moving averages and trendlines), combined with a momentum indicator reversal (MACD lines bottom out before reversing up) then you have odds stacked in your favor for a successful trade. The more synchronous variables present will determine the degree of risk/success of the trade as well as the position size.
I made the mistake of looking only at the multiple support levels while failing to respect the recent bearish MACD line x-over. I will continue to keep my auto-entry active if intra-day conditions are met, but the trade is programmed to only execute above 2.75.
I think it's important for AMRN to maintain the 'higher lows' progress which has also formed an ascending triangle pattern. An entry below this amount could suffer greater risk as multiple long term stops could sweep the pps down significantly. Hopefully the down thrust will peter out before this level and produce a strong reversal.
Best,
FFS
lower low. Until then my buy is active. It won't trigger until 1. MACD crossover, followed by 2. price close above 8EMA on a 30-min intraday chart (all program automated). looking to catch a reversal.
Maybe, but the price behavior is rather simple, expected and very much TA related. We climbed 31% from the recent low on strong volume and have retraced 50% of that move on low volume near an apex = very bullish behavior (buying opportunity). The IBB has done the same thing and is currently testing the 200 day MA (simply profit taking as we close out the year).
Caddiedad -quote: All I'm trying to convey is that charts can't possibly tell us what's going to happen re: new EPA studies or R-IT interim dates, can it? That's been my direct argument to you.
Why should that be a direct argument? TA doesn't care about EPA studies and interim dates unless it serves to directly mirror that fundamental outcome. All too often, stock price performance does not reflect strong or promising fundamentals (as you have experienced). Most on this board have traded (invested) based solely on fundamental analysis and so far, the pps remains beneath the ice line and has yielded net losses for most.
Certain price patterns that breed consequential results reflect, in essence, the psychology of the participants—both long and short (bios included). Even in AMRN’s case, these technical patterns can also reflect the strength or weakness of the underlying fundamentals of the company. I believe those two (fundamentals and technicals) are in sync right now (for AMRN).
Yes indeed charts tell us a lot if you one is willing to listen.
You may not think so because you choose to cloud your mind with dogma, but this IS useful information. To use your metaphor, taking off blinders won't help if you're blind.
C - not pom poms at all. You yourself have repeatedly posted about seemingly endless piles of cash to buy dips. This, in my opinion is one of the last dip buying opportunities we will see before much higher prices. How can you scoff at that opinion?
I don't mind being criticized just don't like to be criticized unjustly by characters who don't know what they're talking about. JV
Oh, okay. Neither of you have yet to take any profits in this stock, remember? Instead you just grind the keyboard with endless sarcasm.
Tell you what, how bout you both short 1k shrs, I'll buy, and we'll see who's ahead by EOY? I'd bet $100 but I know one of you won't pay up LOL.
Invest - I am 4 yrs post hemicholectomy as a result of stage III colon cancer. I'm taking Vascepa to prevent recurrence. Zum has shared studies demonstrating the protective effectiveness of EPA in this area.
The benefits I highlighted have been a welcome relief from the side effects associated with a compromised intestinal system from the surgery and chemotherapy.
If they do, that re-balancing activity will be absorbed and then some by other funds shopping for 2017 growth stocks (AMRN)
CPXX (below) is a good prognostication of what we'll see (in this market environment) in response to positive R-IT results.
The chart example shows several things:
1. news leak prior to announcement
2. powerful gap in response to news that was followed by continued appreciation probably due in part to buyout rumors
3. buyout.
There will be several levels to make money if this plays out. I think it is a mistake to pick a target and move on. If you were to have done that post gap, you would have given up an additional 242% gain.
Even if the company decides to go it alone, the market will naturally churn BO rumors sufficient to absorb initial profit takers and push PPS up much higher on the heels of R-IT announcement.
BB- these results illuminate the many needless deaths the FDA is guilty of as a result of denying the Anchor label expansion.
With the recent Trump win, talk of draining the swamp and pervasive corruption of our government, the history surrounding this FDA mistake would make an awesome 20/20 or 60-minutes story. If that were to occur, I don't think we'd have to wait for R-IT results to see the stock reach $12.00/share.
Thanks for the link JL
Zip and Zu, this news couldn't be better. Years ago I owned ENER stock, stuck in the $8-9 range. The stock had all sorts of promising products "coming soon"
It was the hint of earnings going positive that finally ignited a run to $85.
Hopefully a Rx ramp to + earnings will do the same for AMRN.
BC, congratulations on taking profits. I find it interesting how so many are looking for the stock to drift lower between now and the 2nd interim. While I wouldn’t rule out one more dip to a higher low before a major break higher, I also wouldn't be surprized to see a big move higher near term. There seems to be many combining forces in favor of significantly higher prices from here. I am holding more shares than I ever have due to the broadened interest of AMRN stock, year-end / new-year fund activity, and the current price pattern in comparison to what we saw during the 2012 run up to the FDA acceptance of Vascepa.
As they say on WS, “winners keep on winning, losers keep on losing” in the stock market. AMRN has gained 79% YTD and could likely benefit from a latent push from fund buying to close out the year to both maximize gains, as well as to position for the New Year. Fund managers will likely use the newly favored biotech group as a vehicle to juice profits/commissions. If so, it would be nice to have this wind at our back.
Finally, the current ascending triangle pattern is strikingly similar to the 3 month pattern traced in 2012 – characterized by prices pressed up against resistance, while higher lows coiled towards a breakout.
For such a pattern - under the spell of current momentum – to fail, would require some very poor news or a major market selloff. Could happen, but not likely IMO. Rather, we will hopefully see a simple TA principle work its magic :)
Ziploc,
Sounds like either way, we win. However, clearly as the chart below displays, the bulls have had the upper hand with regards to wave volume:
As for the shorts, I disagree. IMO they are day traders, caught in denial (post Trump win) and remain in hopes of this short term consolidation pennant failing. They'll cover sooner rather than later, on the anticipated breakout.
BB, obviously we are all guarded, but those doubts were voted down 11/8/2016 when the pps subsequently turned on a full sprint north (+25%). I think we will only have cause for concern if Citi's profit target is not reached or breached before the 2nd look.
JL, I appreciate your insight but am somewhat disappointed in your lack of conviction for a stop at the 2nd look. I can’t help but push back the focus and see the big picture for clues. The change in the SPA and addition of SE’s is a big dot. Clearly they rushed to engage a plan that would capture data on the pleiotropic effects that other studies were illuminating. This alone meant that if possible, the trial should roll on, in spite of sufficient PE efficacy to halt. The second thing is the lack of a major sell off, indicating a data leak. Since the knee jerk drop the day of the announcement to continue, the average volume has tripled and higher lows have ensued. No doubt someone is squealing news of efficacy which is beginning to show on the chart. Finally, when everything is boiled down, IMO the 2nd Interim decision is a bigger dot. Even Captain Obvious would agree, they fully intend to obtain sufficient results to stop the trial then. Otherwise, why spend the time and money? FFS
Thanks Michael. IMO, WS is once again stalking AMRN, based both on its fundamental improvements (undervalued), TA setup and prospects (R-IT results). After all the speculation surrounding the 60% interim, the stock remains supported by the bulls and is poised for a major upside move. This chart says it all: