Amarin Corp Plc (AMRN)

[FlyFishingStocks]

Not so fast Golden Flyer.

I don't believe a broken stock trading in the 4 dollar range,that is being manipulated daily and is option controlled can be charted correctly-the stock will move towrd 4.50 strike price on friday

Well... though that may be true in some cases, without substance behind your emotional belief (cardinal sin of trading), your statement is laughable.

When we look at the big picture we clearly see why such beliefs are stupid and dangerous.

My passion is fly fishing. When I look back over the years I realize the biggest trophy trout were caught on the edges of the river, not in the middle and not where I "believed" them to be. When a combination of certain conditions converged (weather/temperature, fly hatch, water level, season, etc.), the big ones fed on edges in the shallow water where you'd least expect to find them.

Same goes for trading stocks. Big catches are on the edges of extremes. I see those juicy conditions right now for AMRN on the edge of a price extreme.



Notice the Highest volume by price zones delineating price extremes – particularly where massive shorting occurred. That zone (pink highlight) has been visited 3 times since April and has held support each time to form a triple bottom (similar to the April – Sept. 2018 triple bottom).
Remember Pyrr and Co.? They got caught short and were sitting on huge losses unless they could somehow engineer a take down that would enable an exit strategy for them to cover. No doubt the twisted logic of the judge/judges enabled that to happen. They have had 3 chances to cover (since April) to be rescued from their colossal miscalculation on R-IT.

As the third higher low traces, accompanied by more buying/less selling, remaining shorts are becoming more and more trigger happy to cover and maybe even go long in front of forthcoming catalysts.

Is there anything more? Yes, a bullish falling wedge on declining volume - indicating the selling is spent and prices are poised to elevate in a much easier fashion because the majority of participants have become buyers (shorts covering/squeeze) and buyers (bottom bargain hunters)… :)

So, based on this perspective, I respect but I do not share the same negative viewpoint towards AMRN TA as you do. Bull and bear behavior is always visible at extremes – no matter what entity is being traded … as long as greedy and fearful humans are involved.

Each tick paints a pretty picture for me.


FFS