Arria NLG is a fascinating company both on a fundamental and technical basis, the former is said on the basis of a DirectorsTalk interview last year. As far as the charting position is concerned it can be seen that the market has taken a positive line on the stock in terms of the price action since bear trap exhaustion gap reversal from below the 20p level. The position now is that we have seen progress from within an overall rising trend channel which can be drawn on the daily chart from as long ago as October. The implication is that we should see the shares remain above the floor of this channel / 50 day moving average at 33p ahead of a new leg to the upside. This is particularly so in the wake of the end of week hammer candle on the daily chart. The view now is that at least while there is no end of day close back below the 50 day line we have an initial target for Arria NLG at the 200 day moving average running at 41p. Once this is achieved the stock should head towards the 2014 resistance line projection target at 55p as soon as the end of April. Only cautious traders would wait on a clearance of the 200 day line before going long.