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5 Stocks With Big Insider Buying

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.

NovaBay Pharmaceuticals

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.

Stock quotes in this article: XOMA, QCOR, IRWD, TUES, NBY 

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