Replies to post #83005 on Amarin Corp Plc (AMRN)

[FlyFishingStocks]

Marzan, the broad market has been down 4 days in a row and likely to be 5. Yesterday’s intra-day reversal was very ugly. Meanwhile, AMRN has only fluctuated $.02 between the open-close the past 3 days while holding support – that is bullish relative strength IMO.
It is still bleeding off overbought conditions. Note the MACD line crossover in the chart below (pink highlights).

This event led to big selloffs in the past. Not this time (so far).

The 30 min chart shows momentum building during this tight consolidation as the Bollinger bands narrow:

I think we see more of the same today until the broad market / world markets calm down and the VIX (fear index) stops rising.