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Halliburton Co forms bullish "Continuation Wedge" chart pattern

(04/12/2012 Fidelity.com)

Recognia has detected a "Continuation Wedge (Bullish)" chart pattern formed on Halliburton Co (HAL on NYSE). This bullish signal indicates that the price may rise from the close of 33.18 to the range of 39.00 - 40.50. The pattern formed over 34 days which is roughly the period of time in which the target price range may be achieved.

Halliburton Co has a current support price of 32.77 and a resistance level of 33.77.

A Continuation Wedge (Bullish) is considered a bullish signal, indicating that the current uptrend may continue. Prices edge steadily lower in a converging pattern i.e. there are lower highs and lower lows. The technical event occurs when prices break above the upper trendline, thereby confirming the pattern.

This bullish pattern can be seen on the following chart and was detected by Recognia's proprietary pattern recognition technology.

Neurometrix (NURO) Inc forms bullish "Head and Shoulders Bottom" chart pattern

04/02/2012

Recognia has detected a "Head and Shoulders Bottom" chart pattern formed on Neurometrix Inc (NURO on NASDAQ). This bullish signal indicates that the price may rise from the close of 0.79 to the range of 0.96 - 1.00. The pattern formed over 38 days which is roughly the period of time in which the target price range may be achieved.

Neurometrix Inc has a current support price of 0.78 and a resistance level of 0.80.

A Head and Shoulders Bottom is considered a bullish signal. It indicates a possible reversal of the current downtrend into a new uptrend. A perfect example of the Head and Shoulders Bottom has three sharp low points, the middle one being lowest, created by three successive reactions in the price of the financial instrument. The technical event occurs when the resistance marked by the "neckline" is broken, thereby confirming the pattern.

Vivus, Arena Unlikely to Be Affected by FDA Obesity Panel

(Anna Edney and Catherine Larkin on March 30, 2012)

Arena Pharmaceuticals Inc. and Vivus VVUS, competing to win U.S. regulatory approval for weight-loss treatments, probably won't be affected by an advisory panel's recommendation for heart-risk studies, a Food and Drug Administration spokeswoman said.

The panel voted 17-6 yesterday in Silver Spring, Maryland, to recommend that companies developing weight-loss therapies should conduct clinical trials to assess heart danger or review pre-approval human trial data on heart attacks and strokes. The panel's goal was to help the agency update guidelines for bringing obesity treatments to market, Erica Jefferson, a spokeswoman for the FDA, said in an e-mail today.

"It's unlikely that the discussions over the past couple days will impact any existing applications," Jefferson said.

According to this excerpt found in Bloomberg BusinessWeek dated March 30 2012, the FDA is simply updating their own guidelines, and this "should not" affect the April 17th decision of the greatly needed weight loss drug Qnexa!