Arena Technicals 5-30-2013

Volume
Volume is critical. I use the 200 day average volume as my baseline. Moves on heavy volume (above the 200 day average) have strength. A move on weak volume lacks conviction. We want to see the equity pass key support and resistance points on heavy volume. We want to see what the volume is when the equity nears support and resistsnce points. EMA's also act as support and gauge sentiment well.

5-30 arna volume.jpg

Support and Resistance
Self explanitory. For tomorrow watch for strength of support at $8.90. There is a sentimental resistance at $9.00. If volume is high and this equity passes $9.00 it can move to $9.25 with relative ease.

5-30 arna sr.jpg

Exponential Moving Averages
The EMA's are all bullish. Caution flags will appear if the price of one EMA dips below the next. Warning flags appear when an average passes below the next. If anyone has a question please feel free to ask.
5-30 arna ema'.jpg