A Catalyst For Stock Surge?

NanoVibronix, Inc. (Nasdaq: NAOV) is a company that makes medical devices using its patented technology of low-intensity surface acoustic waves (SAW). 

This technology produces low-frequency ultrasound waves that can be used for different medical purposes, such as breaking up biofilms and bacteria and relieving pain. The devices are easy to use and can be applied at home without the help of medical professionals. 

The Company’s main products are PainShield and UroShield, which are portable devices that can treat pain and prevent infections.

NanoVibronix, Inc. (Nasdaq: NAOV) announced that its UroShield actuators are now fully reimbursed by the NHS in the U.K. starting from November 1. The actuators are used with the UroShield device to prevent urinary tract infections in patients with catheters.

NanoVibronix also said that it has received and shipped a stocking order from its U.K. distributor, Peak Medical Limited, to meet the expected rise in demand. The company has increased its production capacity accordingly.

The reimbursement by the NHS means that clinicians in the U.K. can prescribe UroShield actuators to their patients without any cost to them. The patients can get the full UroShield system, which includes the device and the actuators, either through the prescription process or through the NHS procurement contract.

Its UroShield Product is Fully Reimbursed; Likely Impact on NAOV Share Price?

The news can increase the demand for NAOV shares, as investors may see the potential of UroShield as a novel and effective solution for preventing urinary tract infections in patients with catheters, which is a common and costly problem in healthcare.

UroShield could reduce the incidence of these infections, as well as the need for antibiotics and hospitalizations. This could boost the revenue and profitability of NanoVibronix in the future, and increase its market value and share price.

The NAOV stock has been consolidating in a narrow range for a while, and its earnings for the quarter could be the catalyst for a breakout. This could result in a significant price movement and a trend change.

Let’s Explore NAOV Stock

Now, it seems like the stock is geared for a remarkable rally, as it has been building a bullish pattern known as a declining wedge in the longer trend. This might gather the bull’s power to break the resistance level and soar from the current zone.

Therefore to incline upwards the price needs to accumulate more bull buying power in the longer trend.

Moreover, if buyers boost more the NAOV stock might surge strongly from the current level and surge above the parallel channel. The possible targets are between $2.50 and $3.00.

On the contrary, if NAOV stock fails to hold its grip and declines and breaches below $0.80, then it may hit $0.30.

Currently, NAOV stock is trading below the 20, 50, 100, and 200 EMAs. This is rejecting the price as the stock faced massive consequences led by negative streaks of earnings reports. This stretched the NAOV stock price downtrend for a prolonged period of time.

Nevertheless, if buying volume increases, the price might support bullish momentum by making higher highs and lows. Hence, the NAOV price is expected to move upward giving a bullish outlook over the daily time frame chart.

Summary

The Company’s main products are PainShield and UroShield, which are portable portable devices that can treat pain and prevent infections. It also announced that its UroShield actuators are now fully reimbursed by the NHS in the U.K. starting from November 1st. Basically, the reimbursement by the NHS means that clinicians in the U.K. can prescribe UroShield actuators to their patients without any cost to them. 

Furthermore, this could boost the revenue and profitability of NanoVibronix in the future, and increase its market value and share price. Also, this could enhance the reputation and recognition of NanoVibronix, and generate more interest and support from potential partners, customers, and regulators.

As per the price action, the NAOV stock has been consolidating in a narrow range for a while, and its earnings for the quarter could be the catalyst for a breakout. This could result in a significant price movement and a trend change.

Technical Levels

Support Levels: $0.80 and $0.30

Resistance Levels: $2.50 and $3.00

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.