AMRN Technical Analysis - AMARIN CORP PLC -ADR

Technical Rating and Analysis

Overall AMRN gets a technical rating of 9 out of 10. Both in the recent history as in the last year, AMRN has proven to be a steady performer, scoring decent points in every aspect analyzed.

Both the short term and long term trends are positive. This is a very positive sign.

AMRN is one of the better performing stocks in the Biotechnology industry, it outperforms 79% of 536 stocks in the same industry.

AMRN is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.

AMRN is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.

When comparing the yearly performance of all stocks, we notice that AMRN is one of the better performing stocks in the market, outperforming 90% of all stocks. However, this overall performance is mostly based on the strong move around 4 months ago.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

AMARIN CORP PLC -ADR / AMRN Weekly stock chart

AMARIN CORP PLC -ADR / AMRN Daily stock chart

Setup Rating and Analysis

Although AMRN has an excellent technical rating, it does not offer a high quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

14.37

19.75

6 important support areas can be observed.

A support zone ranging from 19.33 to 19.33. This zone is formed by a combination of multiple trend lines in multiple time frames.
A support zone ranging from 18.23 to 18.23. This zone is formed by a combination of multiple trend lines in multiple time frames.
Support @15.70 from a trend line in the daily time frame.
Support @15.24 from a trend line in the daily time frame.
Support @14.90 from a horizontal line in the daily time frame.
Support @14.52 from a horizontal line in the daily time frame.

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	UP	POSITIVE	The long term trend for AMRN is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for AMRN is up.
ChartMill Relative Strength	90.8	POSITIVE	AMRN has a high relative strength, it outperformed 90.8% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of AMRN is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of AMRN is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of AMRN is above the rising SMA(200).
Relative Strength Index/RSI (14)	73.21	OVERBOUGHT	The high RSI value suggests AMRN may be overbought.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.22	POSITIVE	The MACD value suggests AMRN has a positive trend, although the MACD value is declining.
Stochastics (14,3)	70.63	NEUTRAL	The Stochastics value for AMRN is a neutral value.
Average True Range in percent/ATR (20)	4.33	MEDIUM VOLATILITY	The ATR as a percentage value for AMRN suggests some volalility.
Average Directional Index/ADX (14)	41.93	POSITIVE	The high ADX value value for AMRN suggests a strong trend.