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* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of AMRN
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Amarin Corporation PLC stock downgraded from Sell Candidate to Strong Sell Candidate after Friday trading session.
(Updated on Jun 21, 2024)

Sell candidate since Jun 13, 2024 Loss -14.28% PDF

The Amarin Corporation PLC stock price fell by -2.93% on the last day (Friday, 21st Jun 2024) from $0.711 to $0.690. It has now fallen 6 days in a row. During the last trading day the stock fluctuated 7.34% from a day low at $0.680 to a day high of $0.730. The price has fallen in 8 of the last 10 days and is down by -2.07% for this period. Volume has increased on the last day by 1 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately $1.39 million.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -21.51% during the next 3 months and, with a 90% probability hold a price between $0.469 and $0.683 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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AMRN Signals & Forecast

There are few to no technical positive signals at the moment. The Amarin Corporation PLC stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.755 and $0.83. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 12, 2024, and so far it has fallen -15.07%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Amarin Corporation PLC gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for Amarin Corporation PLC stock

Amarin Corporation PLC finds support from accumulated volume at $0.673 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0499 between high and low, or 7.34%. For the last week, the stock has had daily average volatility of 5.47%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (AMRN) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Amarin Corporation PLC to open at $0.700, and during the day (based on 14 day Average True Range), to move between $0.635 and $0.746, which gives a possible trading interval of +/-$0.0557 (+/-8.07%) up or down from last closing price. If Amarin Corporation PLC takes out the full calculated possible swing range there will be an estimated 16.14% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.700 (1.42%) than the support at $0.673 (2.49%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Amarin Corporation PLC stock A Buy?

Amarin Corporation PLC holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.

Current score: -6.784 Strong Sell Candidate Downgraded

Predicted Opening Price for Amarin Corporation PLC of Monday, June 24, 2024

Fair opening price June 24, 2024 Current price
$0.700 ( 1.42%) $0.690

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for AMRN

Fibonacci Support & Resistance Levels

Level Price
R3 0.750 8.65%
R2 0.731 5.89%
R1 0.719 4.19%
Price 0.690
S1 0.681 -1.34%
S2 0.669 -3.04%
S3 0.650 -5.81%

Accumulated Volume Support & Resistance Levels

Level Price
R3 0.84 21.60%
R2 0.770 11.56%
R1 0.700 1.42%
Price 0.690
S1 0.673 -2.49%
S2 0.628 -9.01%
S3 0 -

FAQ

What is the symbol for Amarin Corporation PLC Stock and on which exchange is it traded?
The symbol for Amarin Corporation PLC is AMRN and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Amarin Corporation PLC Stock?
Amarin Corporation PLC holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.

How to buy Amarin Corporation PLC Stock?
Amarin Corporation PLC Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Amarin Corporation PLC Stock.

What's the current price of Amarin Corporation PLC Stock?
As of the end of day on the Jun 21, 2024, the price of an Amarin Corporation PLC (AMRN) share was $0.690.

What is the 52-week high and low for Amarin Corporation PLC Stock?
The 52-week high for Amarin Corporation PLC Stock is $1.49 and the 52-week low is $0.627.

What is the market capitalization of Amarin Corporation PLC Stock?
As of the Jun 21, 2024, the market capitalization of Amarin Corporation PLC is 283.49M.

When is the next earnings date for Amarin Corporation PLC?
The upcoming earnings date for Amarin Corporation PLC is Aug 07, 2024.
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About Amarin Corporation PLC

Amarin  PLC Amarin Corporation plc, a pharmaceutical company, engages in the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States, Germany, Canada, Lebanon, and the United Arab Emirates. Its lead product is VASCEPA, a prescription-only omega-3 fatty acid product, used as an adjunct to diet for reducing triglyceride levels in adult patients with severe hypertriglyceridemia. The company sells its p... AMRN Profile

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