Amarin had a gap down on July 18th that created an Island Reversal pattern. The stock saw another gap down on August 9th. AMRN has pulled back a couple of times after filling the gap creating a double-bottom & a base for the stock. Once again the stock price is testing the top of this fill level but with stochastics reading overbought I would expect another pullback. However, there is a bit of a bullish divergence in price to RSI noted on the chart.
If we can see the next pullback be shallow, falling to around $15.50 - $16 before the next bullish move then I would be looking for an eventual breakout with prices rising to $20. There is another gap above that could lead to $21 in the future.
If we can see the next pullback be shallow, falling to around $15.50 - $16 before the next bullish move then I would be looking for an eventual breakout with prices rising to $20. There is another gap above that could lead to $21 in the future.
Note
Breakout happened today. Aiming for that $20 price target. Keeping an eye on the Stochastic though as it is still near overbought.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.