Amarin Corporation PLC Stock Analysis
Technical stock analysis for Wed 12'th Dec 2018
Amarin Corporation PLC gained 1.27% in the last trading day, rising from $16.57 to $16.78 The price has fallen in 6 of the last 10 days and is down by -0.3% for this period. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 0.19 million more shares were traded than the day before. In total, 4.50 million shares bought and sold for approximately $75.52 million.
Amarin Corporation PLC lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 54.78% during the next 3 months and, with 90% probability hold a price between $18.73 and $42.92 at the end of this period.
A buy signal was issued from a pivot bottom point on Tuesday December 11, 2018, 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Amarin Corporation PLC holds sales signals from both short- and long-term moving averages. In addition, there is a general sales 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 $17.08 and $19.22. A break-up above any of these levels will issue buy signals.
Relative Strength Index (RSI)
RSI14 is 47 and the stock is currently not being overbought or oversold
Support & Resistance
Amarin Corporation PLC finds support from accumulated volume at $16.03.
This stock may move much during a 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 $0.64 between high and low, or 3.85%. For the last week, the stock has had a daily average volatility of 7.17%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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The Amarin Corporation PLC stock holds several negative signals and despite the positive trend we believe Amarin Corporation PLC will perform weak in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Sell Candidate.
|AMRN $16.78 $0.21(1.27%)|
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