Arena Pharmaceuticals (NASDAQ:ARNA) is one of today's best performing low-priced stocks, up 2.1% to $3.94 on 0.4x average daily volume. Approximately 1.1 million shares have traded hands today vs. 30-day average volume of 2.6 million shares.High volume often signals a change in trends. Shares of Arena Pharmaceuticals are currently trading above their 50-day moving average (MA) of $3.10 and above their 200-day MA of $3.46.
SmarTrend scans for speculative low-price stocks under $5 for reversals in trends. A large price movement may signal continuation or reversal of a trend.
Arena Pharmaceuticals is in SmarTrend's Biotechnology industry and this industry is currently in a Downtrend. An industry trend that matches the stock's trend helps to add conviction to the stock's Uptrend and price prediction.
SmarTrend is bullish on shares of Arena Pharmaceuticals and our subscribers were alerted to buy on July 01, 2010 at $3.47. The stock has risen 13.5% since the alert was issued.
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