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Affymax, Inc. Message Board

  • dragan7777777777 dragan7777777777 Nov 10, 2012 8:06 AM Flag

    Volume over 2M....

    Agree, except volume was over 2M, not 1.4M......

    "From a technical perspective, AFFY is ripping dramatically higher here right off some near-term support at $20.82 and back above its 50-day moving average of $22.17 with monster volume. This move is quickly pushing AFFY within range of triggering a near-term breakout trade. That trade will hit once AFFY manages to take out some near-term overhead resistance at $24 with high volume.

    Traders should now look for long-biased trades in AFFY as long as it's trending above its 50-day at $22.17, and then once it sustains a move or close above $24 with volume that hits near or above 875,894 shares. If that breakout triggers soon, then AFFY will set up to re-test or possibly take out its next major overhead resistance levels at $26.14 to $27.74. Any high-volume move above $27.74 should be considered bullish technical price action, since that will mean AFFY has entered new 52-week high territory".

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