Arena Pharmaceuticals Forecast and Stock Analysis
Technical ARNA stock analysis for March 19, 2019.
Arena Pharmaceuticals fell by -0.13% in the last day from $45.98 to $45.92 and has now fallen 3 days in a row. The price has fallen in 6 of the last 10 days and is down by -5.82% for this period. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -39 160 shares and in total 273 258 shares bought and sold for approximately $12.55 million.
Close price at the end of the last trading day (Tuesday, 19th Mar 2019) of the ARNA stock was $45.92. This is 0.13% less than the trading day before Monday, 18th Mar 2019.
During day the stock fluctuated 1.90% from a day low at $45.74 to a day high of $46.61.
30 day high of the ARNA stock price was $51.63 and low was $44.56.
90 day high was $51.63 and low was $35.04.
52 week high for the Arena Pharmaceuticals - $51.63 and low - $31.97.
Arena Pharmaceuticals lies in the lower part of a wide and strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $45.76 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 23.28% during the next 3 months and, with 90% probability hold a price between $56.42 and $66.43 at the end of this period.
There are few to none technical positive signals at the moment. Arena Pharmaceuticals holds sales signals from both short- and long-term moving averages. In addition, there is a general sales 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 $45.93 and $47.72. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Friday March 15, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSI14 is 33 and the stock is currently not being overbought or oversold
Support & Resistance
Arena Pharmaceuticals finds support from accumulated volume at $45.90.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.87 between high and low, or 1.90%. For the last week, the stock has had a daily average volatility of 2.59%.
Our recommended stoploss: $43.51 (-5.25%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from pivot top found 2 days ago.)
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Arena Pharmaceuticals holds several negative signals and this should give a sell recommendation, but due to the general chance for a turnaround situation we recommend to hold or accumulate whilst awaiting for further development. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Hold/Accumulate.