If you're in the bull camp on TUES, then I would look for long-biased as long once this stock manages to break out above some near-term overhead resistance levels at $6.21 to $6.49 a share, and then above more resistance at $6.86 a share with high volume. Look for volume on that move that registers near or above is three-month average action of 224,630 shares. If that breakout triggers soon, then look for TUES to trend well north of $7 a share and possibly towards $9 a share.
The last name to consider with some decent insider buying is biotechnology and drugs player NovaBay Pharmaceuticals (NBY). This company is engaged in the discovery and development of innovative product candidates for the treatment or prevention of a range of infections in hospital and non-hospital environments. This stock has traded flat so far in 2012, with shares down by just 1.5%.
NovaBay Pharmaceuticals has a market cap of $38.79 and an enterprise value of $27.68 million. Its estimated growth rate for this year is -45%, and for next year it's pegged at 10.3%. This is a cash-rich company, since the total cash position on its balance sheet is $11.88 million and its total debt is zero.A beneficial owner just bought 398,800 shares, or around $3.17 million worth of stock, at $7.83 to $8.02 per share. From a technical perspective, NBY is currently trending just above its 50-day and 200-day moving averages, which is bullish. This stock has been trending sideways for the past month and change, with shares moving between $1.11 on the downside and $1.40 on the upside. A high-volume move outside of that range will likely setup the next major trend for shares of NBY. If you're bullish on NBY, then I would look for long-biased once this stock manages to break out above some near-term overhead resistance at $1.40 a share with high volume. Look for a sustained move or close above $1.40 a share with volume that hits near or above its three-month average action of 146,510 shares. If NBY triggers that move soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $1.56 to $1.58 a share. Any high-volume move above those levels will then set up NBY to take out more resistance levels at $1.72 to $2.20 a share.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV