Amarin Corp Plc (AMRN)

[FlyFishingStocks]

Kiwi - FFS. thats one powerful down trend line from Jan high's

Yes it is. It pretty much defines the stock's poor behavior YTD



There have only been two occasions when prices threatened to break above this down trendline: 6/12 and 8/16. Both times bearish patterns (rising wedges) formed as prices approached this strong falling resistance. 6/12 was one week prior to the last patient visit announcement. Is 8/16 one week prior to Topline results annoucement? Did somebody get a sneak peak today?

My requirements to buy include both a break above this line combined with a close above the recent high at 3.15. That event would confirm a reversal and strongly suggest great results will be announced.

Today's slip was horrible because it broke below the 20 day moving average and closed near the low of the day. I view today's price move as a kill shot to the prospects/hope of a positive announcement. If we follow the money/momentum, it leads to a pre-announcement exit to the sidelines/safe harbor.

BTW, where is JL/HDG today? Is he attending a company meeting to discuss a strategy to announce?