Momentum Hits Extreme Strength
(ARNA Price of Stock at Publication: $61.48)
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Breaking: Arena Pharmaceuticals Inc (NASDAQ:ARNA) has hit maximum technical strength -- watch the technical oscillators for momentum gaps. The company has broken out to a five bull momentum rating -- that is extreme strength and through technical resistance.
The risk now is that the stock is overbought, but as of this moment, the price is moving abruptly higher, through resistance, and the bulls are leading the charge.
ARNA is up +29.6% over the last three months and up +43.7% over the last six months. The stock price is up +38.7% over the last year. The current stock price is $61.48.
ARNA Stock Returns
The momentum rating goes from a rating of one, the weakest upside momentum, to a rating of five, the highest upside momentum. This is strictly focusing on price and momentum -- that means we focus on real-time stock price movement and then position it relative to the simple moving averages. To make the momentum rating meaningful, the moving averages are also compared to each other.
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