Amarin Corp Plc (AMRN)

[FlyFishingStocks]

I don't know, but I don't pay too much attention to gaps filling over the long haul. Sure stocks back fill on a day to day, even weekly basis, but price behavior is more governed by trumping technicals(confirmed bottom, trending up channel, etc.) over a longer period of time... in my opinion - especially as it relates to AMRN.

I shared this chart on 12/23:

I wrote

Though I expected a breakout sooner, I see no bearish price action since Dec. 9. Rather, I see solid signs of accumulation in the form of buyers absorbing residual tax loss selling as the year ends.

Upstrokes have drawn in 2x’s the volume as the pullbacks, resulting in higher highs/higher lows. There's no reason to expect anything different moving forward ...unless AMRN's own Kilauea decides to erupt overnight.

The good news is that when longer term bullish conditions exist (Bottom formation), prices can only trade sideways so long before striking rising support (up trendline) where buyers overwhelm sellers, leading to a reversal up (higher low). That is about to happen (1-2 days). When it does, the stock will likely pull away from the danger of sub 5.00/sh.

Here is the chart today. Perfect setup for a trade off double support of the up trendline and the 50dMA
.

Losses come in different forms this time of year. I suffered a huge loss on Christmas Eve when I received word my father had passed away. He was a man of no guile. Unlike me, the humble little man embodied Paul's description of love:

Love is patient, love is kind. It does not envy, it does not boast, it is not proud. It does not dishonor others, it is not self-seeking, it is not easily angered, it keeps no record of wrongs. Love does not delight in evil but rejoices with the truth. It always protects, always trusts, always hopes, always perseveres.
Love never fails.

I'm going to take a break for awhile. Hopefully I can make some changes towards emulation of his example.

Best,

FFS