Arena Pharmaceuticals, Inc. (ARNA) has been in a rising triangle pattern for the last two months, and appears poised to break out above the resistance line at the 9 1/2 level.
Canadian Pacific Railway Limited (CP) is up against resistance at its rising tops line, and appears ready to accelerate higher. Targets on a breakout would be 91.19 and then 93.70, with a stop loss below the low of its recent flag at around 88.
McKesson Corporation (MCK) broke out of its flag on Monday, with a gain of 1.60 to 90.88. The breakout puts the stock up against its rising tops line from August. Target is 93.00.
SeaChange International Inc. (SEAC) has been in a steeply rising triangle pattern since its July low. The stock, up 33 cents to 8.63 on Monday, is pressed against its horizontal resistance line that has twice contained prices in this area in the last two months.
A breakout would lead to our short-term target close to 9.00.