2waytrading

Symmetrical Continuation Triangle (Bullish)

Long
NASDAQ:ARNA   Arena Pharmaceuticals, Inc
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1
Lately, i wrote several comments on this stock. 90% of the time we made money out of our technical view. Now, the weekly chart has shown some positive signs as well, and it gives us a good reason to modify our target price from $13-$15 next six months. You can make your stop loss where the descending trend meets ascending trending line. This is a tight stop and the chance to stop you out is very high. We prefer recent low $7 with target price of $15.

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