Perspective on NovaBay Pharmaceuticals Inc.: Current Analysis and Future Projections

The share price of NovaBay Pharmaceuticals Inc. (NBY) reflects an accumulation close to an all-time low, while bulls attempt to limit the decline. However, sellers dominate the trend, dragging the price down on many occasions

Current performance of NBY

Over the past year, the price of NBY shares has fallen by 84.29% and has fallen by 95% over the two-year period. The expectation of quarterly earnings, scheduled for November 9, could be a turning point for the trend

Earnings Analysis Before

The quarterly results are essential to understand the possible change in the NovaBay share price trend. Analysts estimate revenues of 3.547 million dollars and a negative earnings forecast of 0.045 dollars per share. Better results could positively influence the price.

NBY Stock Price Forecasts

Analysts offer different projections for both 2023 and 2024. In 2023, forecasts range from a high of 120 dollars to a low of 0.220 dollars. 2024 estimates indicate a potential upside of up to 9.60 dollars or a minimum projection of 3.6 dollars

Conclusion and Future Perspectives

The price of NBY shares has fallen considerably in recent weeks, but the future direction will depend on the next quarterly results. A positive outcome could restore investor confidence and positively influence the price

Analysts’ projections for 2024 vary, indicating a potential maximum of $9.60 if optimistic conditions occur. However, the price broke below the main 50-day and 200-day EMAs.

Technical Levels:

  • Supports: $0.311 and $0.20
  • Resistors: $0.799 and $1.20
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