The Chart of the Day belongs to Arena Pharmaceutical (ARNA). I found the biopharmaceutical stock by using Barchart to sort today's Top Stocks to Own list first for the highest Weighted Alpha, then I used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Spotter signaled a buy on 11/28 the stock gained 16.99%.
Arena Pharmaceuticals is a biopharmaceutical company focused on discovering, developing and commercializing novel drugs that target G protein-coupled receptors, or GPCRs, to address unmet medical needs. BELVIQ (lorcaserin HCl), their internally discovered drug for chronic weight management, is their first and only drug approved by any regulatory agency for marketing. BELVIQ was approved by the US Food and Drug Administration, or FDA, for marketing in the United States, and was made available by prescription in June 2013 to adults who are overweight with a comorbidity or obese. They are exploring BELVIQ for possible new indications, using different formulations, and in combination with other drugs.
The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
Barchart technical indicators:
- 157.70+ Weighted Alpha
- 100% technical buy signals
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 8 new highs and up 16.99% in the last month
- Relative Strength Index 74.55%
- Technical support level at 34.37
- Recently traded at 34.64 with a 50 day moving average of 28.97
- Market Cap $1.36 billion
- Wall Street analysts issued 4 strong buy and 2 hold recommendations on the stock
- The individual investors following the stock on Motley Fool voted 758 to 77 that the stock will beat the market