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Arena Pharmaceuticals, Inc. Message Board

  • iotnjet_fuel iotnjet_fuel Aug 29, 2013 5:19 PM Flag

    The Stock Is In A Bad Place On A Technical Basis

    TA is only one aspect but it's frequently an important one. Downside gap to open the day today breaking down from an important support zone and set a new 52 week low. There is no support until 5 1/2 area and that is thin. Next real support is between 4 1/2 and 5. Doesn't mean it can't turn around sooner. The rubber band is getting stretched. Most important is that money flow indicators have been negative right on up through today. The stock is oversold and there are faint signs starting to show that it may experience a selling climax which could actually be a blessing. All this bad stuff seems unreal given the decent fundamentals but the chart is the chart, This stock needs lots of help quick.

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    • it's been in a bad place for over a year....longs just don't want to admit it

    • $5.50 on the way no doubt. No technical bounce no support levels, breezed through old 52 week low to close at low of day.

    • Technical analysis has merit on stocks not subject to extreme manipulation, as is currently the case for ARNA. The hedge funds hugely short the stock are well aware of this and fully capable of moving the price 5% or more on any given day by dumping shares into the market and through HFtrading amongst friendly funds, so as to keep the technical indicators where they would like. They are willing to get further exposed in their short position so as to buy time and maybe get scared retail to sell them cheap shares. They are using otherwise legit TA as a tool to dupe a lot of people, who think the price action represents real market perception - it is that simple.

    • Been saying that this POS will see 5, and got bashed to no end for it early on. SINCE FDA approval everything has been a disappointment. The EU debacle, the delayed launch, the dismal launch, the poor script numbers .... but the biggest reality is that their is no real excitement or euphoria over the FATPILL. It will be a very long road now to reach even the most conservative numbers and the only thing that will change that is the DTC campaign and wide spread insurance acceptance and coverage. If the FATPILL cannot be marketed as the miracle weight loss pill...then its just another pill in the pill world and will never reach blockbuster status.

      • 3 Replies to mrmrsrsmm2
      • I'm sorry...your arguments are lame. You are just spewing FUD now. I think people that thought the drug was going to come out of the gate by leap and bounds was off. This isn't Viagra but it is a drug that works and is effective. You want to tute your horn and say I told u so then I respect that but to state it's because of poor script numbers after only being on the market for 11 weeks you obviously don't know much about drug launches. Why don't u come back in a yr and see where Belviq stacks. I guarantee this price in here is bargain!!! This stock is not trading on fundamentals at this point. All technical. We are oversold but nothing will really get this horse going until continued traction of scripts. U only say what u got to say because u want to benefit your pocket book to the short side. Man would be nice to see a buyout just to watch you get caught with your pants down.

      • I don't think the stock is a pos however right now it's not getting any sponsorship. The bears have the upper hand and they appear to be gaining strength. IMO If the bears want to take this lower there will probably never be a better chance than right now. The question that needs to be answered is whether or not there has been much institutional abandonment so far. If there isn't then the stock really isn't all that bad off.

      • norrie54 Aug 29, 2013 5:41 PM Flag

        Hey rick remember that can of whoop #$%$ you wanted to give me?

    • Unfortunately I have to agree. I didn't like the 6.65 breaking. I hate it more than the next long. I think we will get decent script numbers again and should get a pop from that but the further we go down the more we will recover to he upside.

    • Always darkest before the dawn

1.68-0.10(-5.62%)Jul 22 4:00 PMEDT