High volatility in NovaBay Pharmaceuticals, Inc stock price on Wednesday which ended trading at $0.51
(Updated on Dec 08, 2021)
Hold candidate since 2021-12-08 PDF
The NovaBay Pharmaceuticals, Inc stock price gained 8.09% on the last trading day (Wednesday, 8th Dec 2021), rising from $0.47 to $0.51. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 15.33% from a day low at $0.48 to a day high of $0.55. The price has risen in 6 of the last 10 days and is up by 11.77% over the past 2 weeks. Volume fell on the last day by -162 thousand shares and in total, 1 million shares were bought and sold for approximately $539.93 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -23.57% during the next 3 months and, with a 90% probability hold a price between $0.32 and $0.42 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, December 06, 2021, and so far it has risen 19.53%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The NovaBay Pharmaceuticals, Inc stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $0.52. On a fall, the stock will find some support from the short-term average at $0.48. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss
NovaBay Pharmaceuticals, Inc finds support from accumulated volume at $0.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0728 between high and low, or 15.33%. For the last week the stock has had a daily average volatility of 12.17%.
Our recommended stop-loss: $0.49 (-3.48%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 2 days ago.)
Is NovaBay Pharmaceuticals, Inc stock A Buy?
NovaBay Pharmaceuticals, Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.006
Predicted Opening Price for NovaBay Pharmaceuticals, Inc of Thursday, December 9, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price December 9, 2021||Current price|
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NBY Insider Trading
|Dec 06, 2021||Buy||69 767||Hall Justin||Common Stock|
|Dec 06, 2021||Buy||36 765||Jones Andrew D.||Common Stock|
|Dec 03, 2021||Buy||101 650||Kunin Audrey||Common Stock|
|Dec 03, 2021||Buy||101 650||Kunin Jeffrey||Common Stock|
|Dec 03, 2021||Buy||8 690||Jones Andrew D.||Common Stock|
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