SmarTrend identified a Downtrend for Arena Pharmaceuticals (NASDAQ:ARNA) on October 28, 2009 at $4.07. In approximately 5 months, Arena Pharmaceuticals has returned 21.9% as of today's recent price of $3.18.
Arena Pharmaceuticals is currently below its 50-day moving average of $3.20 and below its 200-day moving average of $3.95. Look for these moving averages to decline to confirm the company's downward momentum.
SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of Arena Pharmaceuticals.
