NovaBay Pharmaceuticals, Inc Stock Forecast
NovaBay Pharmaceuticals, Inc stock price ended at $0.0770 on Thursday, after losing 0.388%.
(Updated on Apr 25, 2024)
The NovaBay Pharmaceuticals, Inc stock price fell by -0.388% on the last day (Thursday, 25th Apr 2024) from $0.0773 to $0.0770. During the last trading day the stock fluctuated 6.77% from a day low at $0.0739 to a day high of $0.0789. The price has been going up and down for this period, and there has been a -14.06% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -424 thousand shares and in total, 488 thousand shares were bought and sold for approximately $37.54 thousand.
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 -45.67% during the next 3 months and, with a 90% probability hold a price between $0.0370 and $0.0588 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.
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NBY Signals & Forecast
There are mixed signals in the stock today. The NovaBay Pharmaceuticals, Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell 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 $0.0790 and $0.110. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 6.21%. 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).
Support, Risk & Stop-loss for NovaBay Pharmaceuticals, Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0725. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0050 between high and low, or 6.77%. For the last week the stock has had daily average volatility of 14.87%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NBY) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect NovaBay Pharmaceuticals, Inc to open at $0.0766, and during the day (based on 14 day Average True Range), to move between $0.0664 and $0.0876, which gives a possible trading interval of +/-$0.0106 (+/-13.79%) up or down from last closing price. If NovaBay Pharmaceuticals, Inc takes out the full calculated possible swing range there will be an estimated 27.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0725 (5.84%) than the resistance at $0.0829 (7.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is NovaBay Pharmaceuticals, Inc stock A Buy?
NovaBay Pharmaceuticals, Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.169 Sell Candidate Unchanged
Predicted Opening Price for NovaBay Pharmaceuticals, Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $0.0766 ( 0.519%) | $0.0770 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NBY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0816 | 5.97 % | |
| R2 | 0.0797 | 3.49 % | ||
| R1 | 0.0785 | 1.96 % | ||
| Current price: | 0.0770 | |||
| Support | S1 | 0.0747 | -3.00 % | |
| S2 | 0.0735 | -4.53 % | ||
| S3 | 0.0716 | -7.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0869 | 12.86 % | |
| R2 | 0.0840 | 9.09 % | ||
| R1 | 0.0829 | 7.66 % | ||
| Current price | 0.0770 | |||
| Support | S1 | 0.0725 | -5.84% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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