Amarin Corp Plc (AMRN)

[FlyFishingStocks]

Before y'all get too carried away thinking you have been rescued from your mistake of holding this stock all the way down to the bottom, take a look at this monthly chart:



Clearly, there is grave concern about the prospects for higher prices based on:
1. The inability to take out overhead resistance (purple highlight).
2. The anemic volume behind the recent rally (red arrow).
3. The pattern of sharp reversals on the heels of the 2nd green impulse candles. This pattern has been intact since the breakdown from the top.
4. The RSI remains well below the bullish level of 50 (pink highlight).

Looking at the right edge, prices stabbed up into resistance on the weakest volume over the past 4 monthly candles. This demonstrates the strength of the trend which is down. If prices were going blow up through this resistance, we would see expanding volume as overhead is approached. Instead, we see the opposite.
What do you think is in store for the next candle? Now you know why I keep asking if anyone out there is wise enough to sell into this dead-cat bounce. Now you know why I keep talking about resistance, volume, trend, and RSI strength. They are all extremely weak on the long term chart.
Everyone is giddy about riding this recent wave... not realizing that the tide is working against that wave.

FOMO makes you blood thirsty to the extent you can't stop licking a knife edge covered with frozen blood.