4xForecaster
Long

Major Support Reached @ 8.82/8.69 Range | #AFFX #Nasdaq

NASDAQ:AFFX   AFFYMETRIX INC
179 4 2
Traders,

A bullish reversal confirmation signal completed per @TradingView pre-market data. This bullish signal - generated via my prop predictive/forecasting model - confirms separate analysis offered through a separate analyst. Upon receiving that separate analysis, I decided to apply the model and wait patiently for signal, which has occurred as of this pre-market hour.

Resulting bullish targets are as follows:

1 - TG-1 = 10.33 - 01 JUL 2014, moderate probability

and

2 - TG-Hi = 10.91 - 01 JUL 2014, low-probability

NOTE: All TG-Hi/Lo targets indicate a lower probability of being reached, but if and once reached, price level will very likely act as a major resistance level/support level, respectively.

Cheers,


David Alcindor
Predictive & Forecasting Analysis
01 JUL 2014 - Mid-day Update:

From Twitter:

"$AFFX Update: Advanced since signaled; Resistance @ 9.30, then 9.55/9.65 ahead; BULLISH -
snapshot
via http://www.tradingview.com"


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TECH-NOTE:

1 - Price has moved ahead since release of signal.

2 - Look for a minor overhead (current) resistance at 9.30 versus a major resistance at the 9.55/9.65 range (overhead pink range). Nonetheless, the outlook remains BULLISH for here on, with a predictive model pointing to unchanged targets and directional forecast.

3 - Volume contracted in sync with shallow price retracement. A volume SPIKE/increase at the defined major resistance (look for consolidation at or within the 9.55/9.65 range with volume increase) would provide added credence towards market force gathering at that level to overcome that range. Once this bearish entrenchment is consumed, look for a R/S conversion as added opp for long positions.


Cheers,

David Alcindor
snapshot
Reply
03 JUL 2014 Update: ... Trench War, Anyone?

From Twitter:

"$AFFX Bulls assert themselves above 9.30; Next? How about a bearish 9.55/9.65 trench war?
snapshot
via http://www.tradingview.com"

snapshot



Traders,

At this point, there is a good chance that the move will continue to the upside. The prior 4-hour candle open the attic door for added advance against a heavy 9.55/9.65 terracotta tiled roof. However, what is most surprising is the ease with which that prior 4-hour candle asserted itself if considering the small complementary volume.

At this point, the chart remains bullish with some reservation, since the real task here is to drill through that defined overhead resistance range. Look for a strengthening of volume as this occur, scooping bears aside like old snow in early Spring.

Cheers,

David Alcindor
Reply
07 JUL 2014 - Update

From Twitter:

"$AFFX bulls defend 8.82support aggressively once again; Bullish bias remains intact -
snapshot
via http://www.tradingview.com"


snapshot


David
Reply
09 JUL 2014 Update:

From Twitter:

"$AFFX held ground at lowest support value of 8.82/8.69 range; outlook remains BULLISH -
snapshot
via http://www.tradingview.com"


snapshot



Price retraced and validated the two values defined by the 8.82/8.69 forecast range, which defined the probable last bullish bastion. As this validation of both values completed, price rose sharply to a high close @ 8.99, bringing the day to a positive 1.81% - The candle trader might appreciate the bullish engulfing candle that close the session for Tuesday.

Overall, outlook remains bullish.

Cheers,


David Alcindor
Reply
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