Arena Pharmaceuticals (ARNA - Get Report) is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing oral drugs that target G protein-coupled receptors, in four therapeutic areas: cardiovascular, central nervous system, inflammatory and metabolic diseases. This stock is trading up 3.8% at $6.43 in recent trading.
Today's Range: $6.05-$6.5852-Week Range: $1.23-$7.02 Volume: 13.2 million Three-Month Average Volume: 14.2 million >>5 Stocks Under $10 Set to Explode From a technical perspective, ARNA is moving modestly higher here off some near-term support at $6 with decent volume. This move is quickly pushing ARNA within range of a major breakout trade. That trade will hit once ARNA takes out its May high of $7.01 with high volume. Traders should now look for long-biased trades if ARNA can sustain a move or close over $7.01 with volume that's near or above 14.2 million shares. If we get that move soon, look for ARNA to hit $8 to $9 in the near future. On the flipside, I would avoid this stock or look for short-biased trades if it moves below some major near-term support at $5.78 to $5.53 with high volume.
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