(NVFY) Update: Today's Breakout Idea Is Bringing It Early, Up Approximately 24%
NVFY has come out today on a heater.
Currently up approximately 24%, NVFY is on a tear and has already hit a high of $1.03 on the day.
Could more be on the way?
With NVFY already battling potential resistance at $1.00, it may just be a matter of time until that breaks down. And if that happens today, watch out!
With a tiny float, volatility could be high for today's breakout idea. Make sure to watch it closely.
We don't have a minute to spare this morning so let's dive in quickly.
Over the past couple weeks, I've brought to your attention several low float Nasdaq profiles.
Here's what has transpired:
- 5/24's Profile - Ran approximately 76% over 2 days from a $.71 open to a $1.25 high.
- 5/26's Profile - Hit an almost 2-month high and ran approximately 15% intraday from a $1.29 open to a $1.49 high.
- 6/1's Profile - Displayed a strong showing over 2 days with an approximate 12% run from a $.90 open to a $1.01 high.
But that's the past. Here's what's on deck...
Right now I want you to turn your attention to:
*Nova LifeStyle, Inc. (NVFY)*
Nova LifeStyle, Inc. is a well-established, innovative designer and distributor of modern lifestyle furniture; primarily sofas, dining room furniture, cabinets, office furniture and related components, bedroom furniture, jade mats and various accessories, in matching collections.
Nova LifeStyle’s product lines include the Nova Brands and Diamond Sofa (www(dot)diamondsofa(dot)com). Nova's products feature urban contemporary styles that integrate comfort and functionality, incorporating upscale luxury designs which appeal to middle and upper middle-income consumers in the USA, China, Southeast Asia, South America, and elsewhere in the world.
And right now, NVFY needs to have your complete focus. Here's why.
This Is Another Low Float Profile
According to the Yahoo Finance website, NVFY has a very low float like several of my recent Nasdaq breakout ideas.
In fact, the website reports NVFY to have approximately 4Mn shares in its float.
Why is that important? It's important on one crucial level. Volatility.
With so few shares available for trading, other potential catalysts could help to provide a spark towards a possible vertical move in the near-term.
Don't Believe Me? Look Up NVFY's Chart
Back on July 8th, 2021, NVFY absolutely exploded.
From an open of $3.49, NVFY topped out that day at the $6.66 mark for an astounding 90% intraday move.
Following that up, from a low of $3.20 on July 20th, 2021, NVFY hit a $5.50 high one day later for a move of 71% in a blink.
Do I think one of those moves is going to happen again starting today? Probably not. But you need to be aware of this profile's potential upside.
Coverage is officially initiated on NVFY. When you have time later, do this: