Amarin Corporation PLC Forecast and Stock Analysis
Technical AMRN stock analysis for February 15, 2019.
Amarin Corporation PLC gained 1.79% in the last trading day, rising from $17.35 to $17.66 , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 6 of the last 10 days and is up by 4.68% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 0.03 million more shares were traded than the day before. In total, 3.95 million shares bought and sold for approximately $69.74 million.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the AMRN stock was $17.66. This is 1.79% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 2.57% from a day low at $17.31 to a day high of $17.76.
30 day high of the AMRN stock price was $18.16 and low was $15.65.
90 day high was $19.75 and low was $11.78.
52 week high for the Amarin Corporation PLC - $23.34 and low - $2.35.
Given the current horizontal trend you can expect Amarin Corporation PLC with 90% probability to be traded between $12.05 and $18.84 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Only positive signals in the chart today. Amarin Corporation PLC holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $17.09 and $16.19. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday February 13, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 57 and the stock is currently not being overbought or oversold
Support & Resistance
Amarin Corporation PLC finds support from accumulated volume at $17.33.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.45 (2.57%) between high and low. For the last week, the stock has had a daily average volatility of 4.74%.
Our recommended stoploss: $16.77 (-5.04%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 2 days ago.)
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Evaluation: Buy Candidate
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for this stock to perform well in the short-term period.