AMRN Should Continue to Follow Through

In my previous two articles I said that AMRN was going to start showing strength, and starting Thursday that's exactly what happened. I also said that we should see a near term price target of $13, or even $16! That is yet to happen. So here's why I think AMRN should continue higher. First of all look at the stochastics, MACD and RSI. They were all recently oversold where the stock price came down to a perfect buy area. Unfortunately one of my previous lower trend lines that I had drawn in was broken through, so I had to adjust it, and that's what you see above, the adjusted lower trend line. We finally got the parabolic SAR beneath the stock price which further confirms AMRN is in a new uptrend. Bollinger Bands aren't too contracted, but they have room to expand. Also the last two trading days had good volume, driving stock price higher. The bulls are in control! This is one of my favorite stocks right now and I was lucky to get into this stock in the low $8.

Good luck everyone and happy trading!