Amarin (AMRN) technical preview March 23, 2015

Doji candle day (same opening and closing prices) for AMRN shares on Friday as huge daily volatility and volume went down to more normal levels. The daily trend is still up following the parabolic rise from multi-year lows. The gap between 1,94 and 2,17 offers support, as does the September 2014 intraday high @ 2,09. Only a close below $2.40 would reverse the short-term uptrend. Bears hope that the chart formation of the last couple of days will turn out to be an island reversal but a big down gap is needed to confirm such scenario.

AMRN stock price (7 months)

amrn

Chart courtesy of StockCharts.com. http://stockcharts.com

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