A director just bought 850,000 shares, or about $4.95 million worth of stock, at $5.83 per share.
From a technical perspective, ARIA is currently trending just above its 50-day moving average and below its 200-day moving average, which is neutral trendwise. This stock recently formed a double bottom chart pattern at $4.97 to $4.99 a share. Following that bottom, shares of ARIA have started to uptrend and move within range of triggering a near-term breakout trade.
If you're bullish on ARIA, then I would look for long-biased trades as long as this stock is trending above some near-term support levels at $5.50 or at $5.25 and then once it breaks out above some near-term overhead resistance levels at $6.28 to $6.71 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average volume of 8.07 million shares. If that breakout triggers soon, then ARIA will set up to re-test or possibly take out its next major overhead resistance levels at $7.06 to $7.27 a share, or even $7.73 to $7.84 a share. Any high-volume move above those levels will then give ARIA a chance to make a run at $9 a share.
