Amarin Corp Plc (AMRN)

[Whalatane]

FFS. re this post

Combine that behavior with the noted indicator reversals and we have the TA ingredients for powerful move

Short term the 2024 downtrend line seems to have been broken , but we don't have a fundamental catalyst ( thats near term apparent ) to drive the PPS higher.
Regarding Technical analysis .
I pay attention to the broad TA themes as I know people trade on it .
Classic example are very high RSI readings .
Not 100% predictive but when position with RSI's over 80 ...especially closer to an RSI of 90 ...many traders will simply sell / reduce their position.
Not because of some fundamental reason ..just simply because the stock has run to far to fast ...ie out run its fundamentals.

You have been 100% correct about long term down trend lines .
This is not only AMRN .
Taking a position against a long term downtrend line ...you have to believe the sentiment for the stock is totally washed out .
That everyone that wants to sell has sold and the fundamentals will change and are likely to change near term

Its far easier buying into up trending lines ...adding on dips if the fundamentals are still intact
JMO
Keep posting your charts
Kiwi
My recent purchase of AMRN.

Price. 0.8741

. simply a bet on the UK approving the share buyback ( a fundamental event :--)