Amarin Corporation: A Hidden GemGood afternoon.
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Summary
Technical analysis
On the chart, we can see the imminent completion of corrective wave 2 and the appearance of impulse wave 3.
Several indicators support the uptrend, including the RSI indicator. In addition, this indicator confirms the Elliott Wave labeling.
On the 1D chart, we can see an open gap in the area of $8.4-12.8 per share.
The company's shares are currently in an uptrend. In addition, Amarin shares are just above the EMA 55 and EMA 89, which also confirms the uptrend.
Fundamental Analysis
You can read a complete fundamental analysis of the company in my analytical article in SA.
Conclusion
Considering the above factors, I believe that the growth of Amarin shares will continue.
Disclosure:
This article may not take into account all the risks and catalysts for the stocks described in it. Any part of this analytical article is provided for informational purposes only, does not constitute an individual investment recommendation, investment idea, advice, offer to buy or sold securities, or other financial instruments. The completeness and accuracy of the information in the analytical article are not guaranteed. If any fundamental criteria or events change in the future, I do not assume any obligation to update this article.
AMARIN
AMRN - Could Be A MonsterAmarin popped up on my daily scans that are showing bullish momentum following an oversold condition & I do like the look of its daily chart. A gap up on November 12th which has since been held. A Golden Cross occurring around the same time as well. I have a few price targets noted on the chart based on the Fibonacci Extension tool.
What really interests me about this stock is the +32% short interest currently out on the stock. 1/3 of the 363 million outstanding shares are currently shorted. If this stock does continue its bullish momentum, then it is only a matter of time before the shorts have to cut loose. This thing can become a monster. I would definitely keep it on a watchlist at the very least.
AMARIN - DAILY CHARTHi, today we are going to talk about Amarin Corporation and its current landscape.
Amarin puts its Cardiovascular Drug named Vascepa to a key test today by the FDA committee. Back in 2012, the FDA initially approved Vascepa as the medication showed results in reduce triglyceride levels. Today the decision cames to determine if Amarin will be allowed to prescribe its medicament to reduce cardiovascular events. The approvement could be sharply bullish for the company considering that Cardiovascular diseases affect nearly half of Americans, as statics of the American Heart Associations.
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AMRN - Getting That Heart PumpingAmarin 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.