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Zagg Inc ZAGG stock is perking up with good volumes after a decent consolidation period. Notice on the down days the volume has been very low and on the up days volume has been greater which tells us the bulls are in control here. As long as price remains above 10.46, I see the potential for more upside while noting that near-term resistance is at 10.96 and longer-term resistance is near 11.70. Long positions can be taken at current price (10.83) and below with stop loss below 9.73 on closing basis. The technical indicators are improving. The MACD is positive and above its signal line. The RSI is above its neutrality area at 50 and the CMF is also positive. We can also see in the technical chart above that the 20 day sma has crossed over the 50 day sma in February and that the stock is now flagging above it's 20 day sma. At this point there are still plenty of bears who do not believe in this rally. It appears that the big money is about to dive into the long side as the technicals indicate that the stock is poised to move higher, possibly a lot higher due to the high short interest in the stock. Keep the stock in your radar. I like this stock a lot !!!
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Arena Pharmaceuticals, Inc.ARNA stock had very nice move this week. Volume continues to be strong on this move up, which is very positive. I want to see more follow through from this stock next week. Next resistance lies only at 2.62
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