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(NYSE American: NBY) Is A Low Float Profile Triggering Watchlist Interest (Key Chart Positioning)
January 23rd Greetings, Friend!
Quick recap.
My most recent profile exploded in a massive chart surge. Were you able to watch?
Moving from an after hours close of $5.22 on Tuesday, it surged up its chart Wednesday to deliver an approximate 56% run to a high of $8.18.
A nearly $3.00 mover (approx.), it proved itself to be one of strongest movers in the market on hump day.
But right now, I've got a new breakout idea climbing up my watchlist.
Since December, this NYSE American profile has been heating up, moving above key technical chart levels.
And with a low float of fewer than 5Mn shares, volatility potential could erupt at a moment's notice.
Add in a recent upgrade from a reputable research firm, and it may be just a matter of time until this breakout idea starts earning some serious buzz.
Consider turning your full attention to NovaBay Pharmaceuticals, Inc. (NYSE American: NBY).
NovaBay is a California-based clinical-stage biopharmaceutical company that researches and develops synthetic anti-infective products for the eyecare and skincare markets.
NBY Company Website - NBY Company Presentation -----
3 Potential Catalysts To Consider right now for NovaBay Pharmaceuticals, Inc. (NYSE American: NBY)
#1. NBY is a low float profile meaning volatility potential could be strong.
Yahoo Finance is reporting a float of 4.88Mn shares for NBY.
With floats of this size, volatility potential needs to be on high notice on a daily basis.
Don't forget. My last profile surged approx. 56% and had a float under 5Mn shares...
Now, that isn't to say another move of that sort will happen for NBY this week, but the similarities in float size may suggest explosive volatility potential.
#2. Key technical levels were recently passed on NBY's chart.
In fact, there are at least 4 I'm looking at right now. Since its December 26th low, NBY has passed its:
- 20-Day Simple Moving Average (SMA), its
- 50-Day SMA, its
- 5-Day Exponential Moving Average (EMA), and its
- 13-Day EMA.
Could support continue to build at those levels with the hopes of a potential squeeze scenario developing as NBY's 200-Day SMA continues to fall?
#3. A reputable research firm just upgraded NBY last month.
NBY has been recently upgraded to a Zacks Rank #2. In fact, it was an upward trend in earnings estimates that has triggered this rating change.
The upgrade of NovaBay Pharmaceuticals to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered st-ocks in terms of estimate revisions.
Zacks is one of the largest providers of independent st-ock, ETF and mutual fund research in the U.S.
The performance of their research recommendations has consistently ranked among the top research firms in the U.S. by independent evaluators of equity research.
Find report access here. -----
Coverage is officially initiated on NovaBay Pharmaceuticals, Inc. (NYSE American: NBY).
I'll be in touch with updates when necessary. Talk again shortly.
All the best, Dane James Editor Market Pulse Today
(Remember: St-ock Prices Could Be Significantly Lower Now From The Original Dates I Provided.)
MarketPulseToday.com (“MarketPulseToday” or “MPT” ) is owned by Thousand Sun Media LLC, a single member limited liability company. Data is provided from third-party sources and MarketPulseToday is not responsible for its accuracy. Make sure to always do your own research and due diligence on any day and swing profile MPT brings to your attention. Any emojis used do not have a specific defined meaning, and may be used inconsistently. We do not provide personalized in-vest-ment advice, are not in-vest-ment advisors, and any profiles we mention are not suitable for all in-vest-ors.
Pursuant to an agreement between Thousand Sun Media LLC and TD Media LLC, Thousand Sun Media LLC has been hired by TD Media LLC for a period beginning on 01/22/2025 and ending on 01/23/2025 to publicly disseminate information about (NBY:US) via digital communications. Under this agreement, Thousand Sun Media LLC has been paid five thousand USD (“Funds”) to disseminate information about (NBY:US) via digital communications.
Neither Thousand Sun Media LLC, TD Media LLC and their member own shares of (NBY:US).
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