Amarin Corp Plc (AMRN)

[FlyFishingStocks]

I analyzed all of the Biotech industry and sub-industry components chart by chart. This sector is getting some serious attention right now, contributing to the dominant performance of the Russel 2000 index compared to the Dow and Nasdaq. There are some very nice setups that echo that of AMRN’s reversal mojo: ARIA, ALKS, AMAG, BIIB, MEOH, VRX, and the indexes – IBB, LABU. Other non-biotech stocks that mirror AMRNs symmetrical triangle pattern: ARIA(weekly), SEDG, SINA).

No doubt the group’s strength is contributing to AMRN’s technical breakout. Shorts are taking profits as funds have now turned to this lagging post correction sector. The rotational activity will only help fuel AMRN’s new born bull-run.