Amarin Corp Plc (AMRN)

[FlyFishingStocks]

The worst thing going for AMRN? .. Gravity.
Without any catalysts and the price under the conversion ice line, the stock will continue to feel pressure until a capitulation event.
AMRN has failed miserably the past 2 weeks to participate in the biotech rally. Now, sadly, storms are intensifying – complements of a double top breakdown, broken up-trendline, and daily erosion of support.

Surely someone saw the results. Rest assured, if the data indicated the efficacy hoped for, the stock would not be suffering this technical breakdown. Consequently however, converted shareholders and shorts continue to fuel the selling, likely to continue until long term bulls give up. That may be before the second interim (not likely) or right after (if continuation results). Only then will it be a safe investment. Otherwise (IMO) it is best to stay on the sidelines and let it play out. If it gaps up 100%, then buy on a pullback with a heavy position - enabling capitalization on a double or triple of pps as shorts cover, funds accumulate, earnings ramp up, and big pharma comes shopping – all combining to push higher highs, lower lows.

The dislocation of AMRN with Biotech Index (IBB):




(I'm not long or short).