Shares of Amarin (AMRN) Plunge as $15 Level Doesn't Hold

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Amarin (Nasdaq: AMRN) shares have bounced off the $14 level following a sharp move lower after crossing below the $15 level. The stock is now down about 5 percent to $14.45, however, had plunged more than 8 percent over 2pm to 3pm ET.

Technicians had been holding the price extremely closely to the 50-day simple-moving average throughout much of this afternoon's session; once the selling began, buyers stepped back.

The stock popped over the $14 level on June 27th following some bullish comments from Jefferies related to patents.

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