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Look for Shares of Arena Pharmaceuticals to Potentially Rebound after Yesterday's 6.51% Sell Off
[January 18, 2013]

Look for Shares of Arena Pharmaceuticals to Potentially Rebound after Yesterday's 6.51% Sell Off

Jan 18, 2013 (SmarTrend(R) News Watch via COMTEX) -- Arena Pharmaceuticals (NASDAQ:ARNA) traded in a range yesterday that spanned from a low of $9.76 to a high of $10.30. Yesterday, the shares fell 6.5%, which took the trading range below the 3-day low of $10.13 on volume of 20.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.

Over the past year, Arena Pharmaceuticals has traded in a range of $1.54 to $13.50 and is now at $9.77, 534% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 1.9% while the 50-day MA has advanced 2.4%.

SmarTrend recommended that subscribers consider buying shares of Arena Pharmaceuticals on October 16th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $9.36. Since that recommendation, shares of Arena Pharmaceuticals have risen 11.7%. We continue to monitor ARNA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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