Amarin Corp Plc (AMRN)

[FlyFishingStocks]

Dogn, we are all entitled to our own opinion.

While looking at the TA charts and “wondering why the price has just traced an ominous triple top”, can you explain how this price action “reality” can reasonably ignore unique real world & significant external events that may completely alter the future trajectory of the company?

This price action is in fact reality, as it is the very consensus of perceived value of the company - which includes not just "unique real world and significant external events" but also other fundamental real grinding metrics like earnings, revenue, price to sales, etc..

Let me answer your question with a question: How do you explain the chart below, showing multiple unique real world and significant events like the R-IT presentation at the ACC and the FDA approval, etc.. Each event was met with lower prices. It's that divergence that creates effective trade setups and TA is the only effective way to recognize it.



TA provided effective predictive value to the runups to each of the listed events.
1. Nissen hit piece: prices traced a lower high prior to the release
2. FDA approval: prices upthrusted the high and failed, tracing a false breakout - indicating massive selling into strength = bearish.
3. DU judgement: prices broke down to new post-R-IT lows, pulled up and were rejected by the lowest valley - effectively confirming a "Triple top" prior to her judgement. Also at this time, the daily/weekly trendline was down along with the 20- and 200-day moving averages = all bearish indication that "something is not right".
4. Appeal: prices failed to reach the reaction high post DU and all other indicators remained bearish. Big money failed expect or forecast a win.
5. each negative earnings runup showed the same thing; rejection at falling resistance - forecasting a further gap down/breakdown in prices.
6. Finally the Denner effect which has led prices into the abyss.... hmmm???
shortly into the new year we get a mysterious "upgrade" the day before the Biotech annual meeting, followed by Denner's proxy war declaration. Once again prices were rejected at falling resistance and have traced another triple top.

Do you think Wall Street trusts what the chart is telling or do they trust in what could be an "unique real world & significant external event?"