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

July 10, 2012 3:15 PM EDT Send to a Friend
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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Comments

better stock chart
jason f on 2012-07-10 15:45:35
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http://www.chartlearning.com/p/stock-chart-holder.html Check that out right there, there is a gap to fill at 13.58 look for a reveresal there


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