Posted On: 01/11/2014 8:08:49 PM
Post# of 2561
AMRN Daily Chart ~ Getting Closer to a Break to the Upside
AMRN is nearing its upper channel line again. Although AMRN hasn't offered much in the way of channeling and swing trading for us, the stock has chopped its way near the resistance point again. Thursday saw an intraday attempt with a move up to 2.48 before selling off. Friday saw a gain of 4.2%. My guess is that AMRN breaks above the line this coming week. A closing of the gap on the chart would represent a gain of more than 100% from here. As with a couple of other stocks we are trading, this one is also facing a declining MA100 and 200 prior to getting into the low 5.00s. For those friends who entered in the 1.80, you have a nice gain already in just three weeks. I'm in just under 2.00 but will probably add this week as I like the chances for more gains as the stock is trending higher on rising support. The key will be the volume on any breakout. GLTA
AMRN is nearing its upper channel line again. Although AMRN hasn't offered much in the way of channeling and swing trading for us, the stock has chopped its way near the resistance point again. Thursday saw an intraday attempt with a move up to 2.48 before selling off. Friday saw a gain of 4.2%. My guess is that AMRN breaks above the line this coming week. A closing of the gap on the chart would represent a gain of more than 100% from here. As with a couple of other stocks we are trading, this one is also facing a declining MA100 and 200 prior to getting into the low 5.00s. For those friends who entered in the 1.80, you have a nice gain already in just three weeks. I'm in just under 2.00 but will probably add this week as I like the chances for more gains as the stock is trending higher on rising support. The key will be the volume on any breakout. GLTA
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