Arena Pharmaceuticals has started to break out of its resistance and is now heading higher. One of the early catalyst was ARNA signing up with a marketing or sales partner. And the second catalyst is FDA assessment of Vivus drug potential ( Note : Vivus is ARNA competitor). The key thing to note here is… Continue reading Arena Pharmaceuticals (ARNA) : Break kumo and let the speculation begins
After consolidating falling and consoidating for almost a year, ARNA is making some move today. It has break through its resistance at 3.18 and has went above the Kijun sen. At this moment, it falls short of breaking through the kumo. A break above it will signal a very strong bullish move. Kumo resistance at… Continue reading Arena Pharmaceuticals (ARNA) : Challenging Kumo Resistance
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.