NovaBay Pharmaceuticals, Inc Forecast and Stock Analysis
Technical NBY stock analysis for March 20, 2019.
|Shorts||2.61% ( 2019-02-28 )|
NovaBay Pharmaceuticals, Inc gained 1.48% in the last trading day, rising from $1.35 to $1.37 The price has fallen in 6 of the last 10 days , but is still up by 0.74% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 3 049 more shares were traded than the day before. In total, 10 128 shares bought and sold for approximately $13 875.40.
Close price at the end of the last trading day (Wednesday, 20th Mar 2019) of the NBY stock was $1.37. This is 1.48% more than the trading day before Tuesday, 19th Mar 2019.
During day the stock fluctuated 2.39% from a day low at $1.35 to a day high of $1.38.
30 day high of the NBY stock price was $1.75 and low was $1.33.
90 day high was $2.30 and low was $0.71.
52 week high for the NovaBay Pharmaceuticals, Inc - $3.85 and low - $0.71.
NovaBay Pharmaceuticals, Inc lies in the lower part of a very wide and strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $1.27 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 30.87% during the next 3 months and, with 90% probability hold a price between $1.66 and $3.03 at the end of this period.
A buy signal was issued from a pivot bottom point on Tuesday March 19, 2019, which indicates further gains until a new top pivot has been found. NovaBay Pharmaceuticals, Inc has rising volume and follows the last lift in the price. This considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. NovaBay Pharmaceuticals, Inc holds sales signals from both short- and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up there will be some resistance from the lines at $1.41 and $1.53. A break-up above any of these levels will issue buy signals.
Relative Strength Index (RSI)
RSI14 is 46 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $1.13 and $1.08.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, NovaBay Pharmaceuticals, Inc finds support just below today's level at $1.13. If this is broken, then the next support from accumulated volume will be at $1.08 and $1.07.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.03 between high and low, or 2.39%. For the last week, the stock has had a daily average volatility of 5.63%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Sell Candidate
The NovaBay Pharmaceuticals, Inc stock holds several negative signals and despite the positive trend we believe NovaBay Pharmaceuticals, Inc will perform weak in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.