Arena Pharmaceuticals (NASDAQ:ARNA) hit a new 52-week high yesterday, and its chart is indicating that there may be more upside. The stock is still trading above all its key DMAs which are pointing upwards. In addition the Accum/Dist indicator continues to trend north and MACD above 0. The Parabolic SAR also continues with its buy signal. Pullbacks should be used to enter into the stock.
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eBay Inc (NASDAQ:EBAY) has been resilient in the recent carnage. The stock is in strong hands and a close greater than $42 will trigger more upsides. The 39 level is the stop loss from a short term perspective and stock can be accumulated in declines. Upsides resistance zones are 41.4, 41.84 and 41.96.
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Zynga Inc (NASDAQ:ZNGA) closed near the 52-week low of 5.51 it hit last week. A move below this key support level should lead to further selling potential for the stock. MACD is negative and the Parabolic SAR continues with its sell signal. Bearish, no signals of turn.
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Skechers USA Inc (NYSE:SKX) – Shares hit a new all-time high. Will watch today for continuation. Good looking chart.
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Shares of Amazon.com, Inc. (NASDAQ:AMZN) are at a critical level in its recent uptrend. A convincing close above 221 will give it room to go for the recent high of 233. Long positions can be taken with a stop loss at 202 which should be used considering the overall bearish market sentiment.
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