Telecom Signaling Industry News

TMCNet:  Hot Stock: Affymax, Shares Gain 11.8% (AFFY)

[May 13, 2013]

Hot Stock: Affymax, Shares Gain 11.8% (AFFY)

May 13, 2013 (SmarTrend(R) Spotlight via COMTEX) -- Affymax (NASDAQ:AFFY) is one of today's best performing low-priced stocks, up 11.8% to $1.52 on 1.8x average daily volume. Thus far today, Affymax has traded 10.3 million shares, vs. average volume of 5.8 million shares per day. The stock has outperformed the Dow (11.8% to the Dow's -0.2%) and outperformed the S&P 500 (11.8% to the S&P's -0.1%) during today's trading.

Affymax (NASDAQ:AFFY) has potential upside of 113.8% based on a current price of $1.52 and analysts' consensus price target of $3.25. The stock should find initial resistance at its 50-day moving average (MA) of $1.55 and further resistance at its 200-day MA of $15.36.

Affymax Inc. is a clinical-stage biopharmaceutical company. The Company develops peptide-based drugs for the treatment of serious and life-threatening conditions such as kidney disease and cancer.

In the past 52 weeks, Affymax share prices have been bracketed by a low of $0.78 and a high of $27.74 and are now at $1.52, 95% above that low price. The 200-day and 50-day moving averages have moved 2.47% lower and 20.74% lower over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Affymax. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Affymax in search of a potential trend change.

Write to Chip Brian at --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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