We've asked our friend Jim Robinson of profittrading.com to provide his expert analysis of charts to our readers. Each week he'll be be analyzing a different chart using the Trade Triangles and his experience.
Today he is going to take a look at the technical picture of Amarin (AMRN)
I hope you are having a GREAT week !
AMRN is in a long term up trend as MarketClub put in a Monthly green Trade Triangle in February 2012 (not shown on the chart).
Right now MarketClub is on a Weekly red Trade Triangle, which probably reflects the counter trend correction.
If AMRN trades higher from here and moves back above the 50 day moving average that would signal a correction low is possibly in.
A move above the 50 day moving average would also probably put in a Weekly green Trade Triangle which would be bullish.
This is a Chart to Watch as higher prices could lead to a +100 MarketClub reading soon.
I hope you enjoy the commentary and please leave any questions or comments as to what you think is going on for AMRN right now.
Thanks,
Jim Robinson
Profit Trading.com
Is this a joke or what? It is August. You email this to your members that a stock to watch is AMRN? One of the most volitle stocks on the board right now with patent 889 and NCE status upcoming Orange book, and you talk about its chart from Feb trade triangles?
And you say a move above would " PROBABLY " do this and a move, and a move above.
and then you say " This is a Chart to Watch as higher prices could lead to a +100 MarketClub reading soon. "
it is at -70
why dont u say the real reason " JEREMY OR JIM " ... since you are trying to tell others about your FISH OIL PLAY
like you tried to tell others about DNDN that BLEW UP.