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Healthcare

Arena Pharmaceuticals (ARNA) : Possible new bullish trend

ARNA post a good gain of over 8% yesterday with more than 5M volume (vs 1.85M average).

On the chart, we can see a strong bullish white candle which represent a reversal of its downtrend.

At this moment, there is no confirmation that a bullish trend has developed. We would want to see either a bullish cross from the Tenkan sen and Kijun sen or a price action that goes above its kumo resistance.