Amarin (AMRN) August 10

AMRN shares closed the week on resistance offered by both the 50-day and the 100-day SMAs (chart). The stock could not hold on to a new one month high but closed on a two-week high, which is very positive. The gap up with high volume has canceled the bearish scenario for the time being. The price action of the last 2 months is practically a series of “harami” candlesticks following the volatility surge of May 27.

AMRN (4 months)

amrn

Chart: Stockcharts.com

Petros Steriotis