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Technical Analysis And Chart - ARNA Remains One Of The Hottest Stocks On Wall Street

|Includes:Arena Pharmaceuticals, Inc. (ARNA)
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) remains one of the hottest stocks on Wall Street right now making all time highs almost every day. The stock is trading back over all three major moving averages. I like the stock as long as it can continue to close at or over $8. Pullbacks to the 10-day moving average should be a great buying opportunity for a trade. However, I would like to point out that the technical indicators are extremely overbought here, with RSI at 89 and stochastic at 93.

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Posted by antonioac at OnlineTradersForum.com
Stocks: ARNA