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Weaker Hold
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Arena Pharmaceuticals Stock Forecast NASDAQ:ARNA

$57.42 (-2.61%)

Volume: 319k

Closed: Nov 26, 2021

Hollow Logo Score: 0.363

Arena Pharmaceuticals Stock Forecast

$57.42 (-2.61%)

Volume: 319k

Closed: Nov 26, 2021

Score Hollow Logo 0.363
Which way will ARNA go? Request
Stop-loss: $55.08 (-4.08%)
Key Stats
P/E Ratio -6.02
Beta 1.17
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 34 and the stock is currently not being overbought or oversold

Arena Pharmaceuticals stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Nov 26, 2021)


Hold candidate since 2021-11-26

The Arena Pharmaceuticals stock price fell by -2.61% on the last day (Friday, 26th Nov 2021) from $58.96 to $57.42. During the day the stock fluctuated 5.76% from a day low at $55.43 to a day high of $58.62. The price has fallen in 6 of the last 10 days and is down by -3.14% for this period. Volume has increased on the last day by 33 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 319 thousand shares were bought and sold for approximately $18.34 million.

The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $56.21 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 3.41% during the next 3 months and, with a 90% probability hold a price between $58.13 and $66.97 at the end of this 3-month period.

Signals & Forecast

There are few to no technical positive signals at the moment. The Arena Pharmaceuticals stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $58.97 and $60.26. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, November 03, 2021, and so far it has fallen -9.49%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Sell
Special Signal Notification

Double Top Formation

Double Top Formation A sell signal from a double top formation was found on Wednesday, November 03, 2021 and based on theory for this formation the price should fall by -8.75% to $52.40 within 14 trading days since signal was issued (Tuesday, November 23, 2021).

Support, Risk & Stop-loss

Arena Pharmaceuticals finds support from accumulated volume at $56.94 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $3.19 between high and low, or 5.76%. For the last week, the stock has had a daily average volatility of 4.06%.

Our recommended stop-loss: $55.08 (-4.08%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 16 days ago.)

Is Arena Pharmaceuticals stock A Buy?

Arena Pharmaceuticals holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.363

Predicted Opening Price for Arena Pharmaceuticals of Monday, November 29, 2021

The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price November 29, 2021 Current price
$57.16 $57.42 (Overvalued)
Hold/Accumulate Upgraded

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Analyst Ratings

On Oct 14, 2021 "SVB Leerink" gave "" rating for ARNA. The price target was set to $62.83+1.1%.

Volatility and Risk
Daily Average Volatility: 4.06 %
Overall Risk: Very High High Medium Low Very Low
Volatility
4.06 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $57.97
Price: $57.42
Support: $56.94

ARNA Insider Trading Show all Trades

INSIDER POWER

2.234

Last 100 transactions
Buy: 954 283 | Sell: 427 086 (Shares)
Date Action Amount Person Type
Aug 16, 2021 Buy 1 000 Munshi Amit Common Stock
Aug 15, 2021 Buy 15 000 Manion Douglas J. Common Stock
Aug 15, 2021 Buy 90 000 Manion Douglas J. Employee Stock Option (right to buy)
Aug 15, 2021 Buy 15 200 Manion Douglas J. Employee Performance Restricted Stock Unit
Aug 12, 2021 Buy 1 000 Munshi Amit Common Stock
Show all Insider Trades
INSIDER POWER

2.234

Last 100 transactions
Buy: 954 283 | Sell: 427 086 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 60.35 5.10 %
59.13 2.97 %
58.38 1.66 %
Current price: 57.42
Support 55.94 -2.58 %
55.19 -3.89 %
53.97 -6.01 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 61.05 6.32 %
60.25 4.93 %
57.97 0.96 %
Current price 57.42
Support 56.94 -0.84%
56.78 -1.11%
52.43 -8.69%

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About Arena Pharmaceuticals

Arena Pharmaceuticals Arena Pharmaceuticals, Inc., a biopharmaceutical company, discovers, develops, and commercializes novel drugs that target G protein-coupled receptors to address unmet medical needs in the United States and South Korea. The company offers BELVIQ, a drug used to treat chronic weight management in adults. It is also developing a portfolio of programs in various therapeutic areas, including cardiovascular, central nervous system, and metabolic diseas... Read more

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