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Biotech / Medical : Arena Pharmaceuticals (ARNA)
ARNA 99.990.0%Mar 15 5:00 PM EST
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To: Justinfo who wrote (2192)2/13/2014 5:45:47 PM
From: The Ox  Read Replies (4) of 2274
 
For the better part of a week starting January 7, it was where I was watching and often would "buy the short term dip". It was the "last" low intraday on the 14th, before we gapped up into the new high. It turns out it was right around the 50% retrace area between the 1/15 high from the 1/13 short term low.

It was near the support area during the intraday drop on 1/21. Also, it was where the market bounced then turned down in the first half hour of trading on the 23rd, the first day of the latest decline.

I will often leave an indicator line on the chart when I get multiple hits around a number.

I guess it was an arbitrary number but given all of the above, I had it as a target price. I had no idea it would be "the high" of the day today.
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