Replies to post #117046 on Amarin Corp Plc (AMRN)

[couldbebetter]

FFS, Thanks for the update. Much appreciated.

[FlyFishingStocks]

Anatomy of an AMRN trade continued...

Last Saturday I shared these charts:



Here are the same charts (updated at the market close today)
IBB continues to get hammered,

While AMRN diverges up, complements of a squeeze breakout:

I will be taking whatever the trade gives – determined by: 1. Momentum reversal, followed by 2. Price close below the fast ema.

You can see by the shaded areas in the past, if the price action stays true to form, this trade has plenty of gas in the tank before momentum fades. If it can work its way through the target zone, we might even see a stab at the high before the program executes profit taking.

Best,

"10% man"