Replies to post #392607 on Amarin Corp Plc (AMRN)

[dukesking]

FFS, Thanks for your input. Not being a TA investor myself, I still appreciate and enjoy reading your TA posts. I have been adding shares below $1.15 so I look forward to volcanic eruptions.

[panton]

Thanks FFS. I appreciate your insight and analysis.

[FlyFishingStocks]

AMRN "Bait-n-wait" meter

Fly fishing is similar to active trading - lots of short term action. Bait-n-wait on the other hand is similar to buy and hold. Usually it involves sinking a worm to the bottom, then waiting for a nibble.

One of my most effective tools for timing bullish/bearish periods of the general market or other individual stocks is my Bait-n-Wait meter below:



It is a weekly chart (each bar is 1 week) where red bars indicate sell (sidelines or counter-trend day trades only) and green bars indicate buy and hold.

When applied to AMRN, you can see the bearish selloffs that enabled one to sidestep, and the bullish periods that enabled one to take exactly what the market was willing to give.
Notice the change from red to green prior to the R-IT announcement and green to red right after the FDA approval. Following this indication would have encouraged taking R-IT profits while avoiding the DU disaster.

Finally, near the right edge, you can see the "squeeze" characteristics that have traced just prior to turning green again.

Whether you use TA or not, this tool helps you avoid the teeth of bear markets while leaning into the hot, bullish (volcanic) periods.

Go V!!

[lizzy241]

FFS, you forgot one minor factor to add your theory. The stock is 1.17 based on Fido's numbers the short interest is 2.41%. Do you really think with a 2% short interest the stock will have a "short squeeze"?? If the stock was trading in the teens maybe a squeeze could happen if the stock gaps up but at 1.17 really?????

[FlyFishingStocks]

In my previous post I presented the Anatomy of a Price Squeeze using the AMRN daily chart.

Interestingly, the two charts below share identical squeeze pattern setups (with regard to price action, momentum, etc.) and timing/date of breakouts.

1/6/2022


1/7/2023


In fact, Last years breakout bar was on Friday, January 6.

This years followed suit and broke out on Friday January 7.

Last year's rally lasted 4 weeks and gained +72%.(Nice if you're long...sucks if you're short).