AI
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| Alias Born | 03/23/2013 |
Tuesday, April 26, 2022 7:36:58 PM
No, I do not own it, nor would I buy it at these levels (around $2.94) unless:
There is a reversal in the biotech index
*and a reversal that leads to a breakout of the blue down trendline on the AMRN chart. Denner bought at the black arrow. I might buy in near the green arrow IF lower lows are successfully tested and serious volume pushes the share price above the down trendline.
Right now, there is nothing appealing about a sub 3.00 price given the TA posture. Each day the stock trudges lower, it becomes buried in more overhead resistance.
If the market spills over further, this stock could easily test the lower end of the blue descending channel and "test" isn't always synonymous with "bounce".
There is a reversal in the biotech index
*and a reversal that leads to a breakout of the blue down trendline on the AMRN chart. Denner bought at the black arrow. I might buy in near the green arrow IF lower lows are successfully tested and serious volume pushes the share price above the down trendline.
Right now, there is nothing appealing about a sub 3.00 price given the TA posture. Each day the stock trudges lower, it becomes buried in more overhead resistance.
If the market spills over further, this stock could easily test the lower end of the blue descending channel and "test" isn't always synonymous with "bounce".
