Affymax (AFFY) is a biopharmaceutical company developing drugs to improve the treatment of serious and often life-threatening conditions. The stock is trading up 7.8% at $13.41 in recent trading.
Today's Volume: 1.5 millionAverage Volume: 1.1 million Volume % Change: 100% From a technical perspective, AFFY has started to trigger a major breakout trade today now that this stock is moving above some near-term overhead resistance at $13.14 with decent volume. Traders should continue to look for long biased trades in AFFY as long as the stock is trending above $13.14 with strong upside volume flows. It would also be bullish if AFFY closes near its daily highs today. If we get that action today, then this stock has a great chance to hit $15 to $16 in the very near future. I also featured Affymax recently in " 5 Stocks Ready to Soar on Bullish Earnings."