Amarin Corp Plc (AMRN)

[BostonTrader]

AF, I’m not sure what the volume down in the $14’s has to do with a return to there, that’s really not how stocks trade. The volume there was manufactured by a legal firm announcing an investigation and a panic selling that had set in from many weak hands buying for the AHA.

If this stock hits $23 and collapses to $14 again something would have to be monumentally wrong. There will be some profit taking, but with the increase in scripts, there will be new buyers getting on board.
Most technicians I’ve ever worked with consider that gap closed on the charts.

Between script growth and a Europe deal, the shorts just don’t have the same power the 2nd time around, which is why you are seeing higher lows. Once AMRN reaches the $20’s again I think you will see a slow choppy drift up towards $25 by year end, unless something big gets announced. Just don’t see year end selling as a big issue here given the stock price.