Amarin Corp Plc (AMRN)

[FlyFishingStocks]

Yep. The price squeeze pattern's chain reaction of TA propagating events was ignited today:

1. Signal line crosses the o line
2. Breakout of the Bollinger Band squeeze
3. 50MA turns up
4. the 20MA crosses above the 50MA (golden cross)
5. Bollinger bands expand and turn up
6. price crosses 200MA
7. May gap fills.
8. Analyst upgrades

1, 2 and 3 occurred today... #4 is on deck.

We saw the largest daily Bullish candle and the highest up volume since August 8th. Buying begets buying as this sort of price squeeze (Volcano) rally sharpens and shorts panic push prices higher, triggering the remaining events above.

As for timing, the advance might need a day or two to breathe, but I wouldn't be surprised to see 1.50 tested tomorrow, and 1.70 or higher by Friday, followed by a push into the 2's over the next few weeks.

The chart below shows an identical squeeze pattern that occurred in January 2021, when prices broke out and went on a +84% rally in 2 1/2 weeks.



A similar run now, takes AMRN up to 2.39/share.
It could run further however. The previous pattern rally filled the gap and turned the 200MA (red line) up. If that were to occur this time, we could see a much larger advance up to target #2 (+2.64/share).

All the same ingredients are present: sharp gap down wash out, 4-5 month consolidation into narrow Bollinger Bands with building MACD momentum (tremors).... then BOOM!