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ARNA – The Definition of Relative Strength

"Danno" Sheehy
Equity Strategist

Arena Pharmaceuticals, Inc. (ARNA) has been the definition of “relative strength”. Please observe the chart below.

The cup & handle pattern formed by ARNA in 2018 is not nearly as impressive as the relative strength the stock has demonstrated over the past week. Price action over the past seven trading days has consolidated sideways to form the handle of the bullish basing pattern while the broader stock market has corrected to the downside. Given the information provided by the current daily chart, we think ARNA is poised to breakout once a definitive move back higher by the broad market gets underway. Put ARNA on the bullish side of stocks to watch.

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The full version of this article appears in the ShadowTraderPro Swing Trader newsletter which is published daily. The Swing Trader newsletter delivers value to its followers on multiple levels. The newsletter stands alone as either a purely informational vehicle for those who like to find and trade their own setups, or as a daily resource for trade ideas. These ideas are listed in the Bulls & Bears section and may also be traded live via MyTrade alert by our team. Each day’s edition contains commentary on either the broad market or a particular stock in focus (Looking Ahead), a heads up on upcoming economic and corporate data, and a look Under the Hood, listing what happened with market internals in the previous day’s session, along with /ES Pivots and Market Profile levels for the current day. The newsletter is sent out at night assuring that users have ample time in the morning to digest the information regardless of how early they get up!
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Written by "Danno" Sheehy

Danno is the editor of the ShadowTraderPro Swing Trader and is the developer of the ShadowTrader Sector Trend Scores and also the infamous ShadowTrader Money Flow indicator. Check out the full version of the Swing Trader newsletter daily at

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