Amarin Corporation PLC Forecast and Stock Analysis
Technical AMRN stock analysis for April 25, 2019.
Amarin Corporation PLC gained 3.41% in the last trading day, rising from $18.49 to $19.12 , and has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. The price has risen in 7 of the last 10 days , but is still down by -1.75% for this period. Volume fell in the last day by -1.99 million shares, and in total, 6.54 million shares bought and sold for approximately $125.01 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Close price at the end of the last trading day (Thursday, 25th Apr 2019) of the AMRN stock was $19.12. This is 3.41% more than the trading day before Wednesday, 24th Apr 2019.
During day the stock fluctuated 6.25% from a day low at $18.08 to a day high of $19.21.
30 day high of the AMRN stock price was $20.97 and low was $16.65.
90 day high was $23.25 and low was $15.65.
52 week high for the Amarin Corporation PLC - $23.34 and low - $2.35.
Amarin Corporation PLC lies in the middle of a very wide and weak 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 8.67% during the next 3 months and, with 90% probability hold a price between $18.45 and $25.53 at the end of this period.
A buy signal was issued from a pivot bottom point on Wednesday April 17, 2019, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Amarin Corporation PLC holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $19.31. On a fall, the stock will find some support from the short-term average at $18.32. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal.
Relative Strength Index (RSI)
RSI14 is 45 and the stock is currently not being overbought or oversold
Support & Resistance
Amarin Corporation PLC finds support from accumulated volume at $18.44.
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 $1.13 between high and low, or 6.25%. For the last week, the stock has had a daily average volatility of 4.52%.
Since the Amarin Corporation PLC has been rising for 6 days in a row, the risk for the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stoploss: $18.32 (-4.17%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 5 days ago.)
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Evaluation: Sell Candidate
Amarin Corporation PLC holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development.
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|AMRN $19.12 ($0.63 3.41%)|
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