Amarin Corp Plc (AMRN)

[FlyFishingStocks]

An observation: Huge news induced gaps rarely occur from extended, overbought levels. The vast majority of recent and past examples show that the BOOM! comes on the heels of a down-stroke in price – form oversold levels. Check these symbols out:


As to why this happens is a whole other discussion.

That tendency does not bode well for the hope that AMRN will suddenly explode (on news) while the pps is stalled at extended resistance levels. When compared to the weekly Biotech index (IBB) chart, the price action looks more technical than as if someone knows something:


Save your snide comments, this is just for your consideration.