Key Levels and Prospective Catalysts (LAES, DBGI, LASE, MGRX, GLTO, SGN)

The small-cap sector stands out as a breeding ground for untapped opportunities and hidden gems. Investors and traders navigating these waters know all too well that success often hinges on a keen understanding of key levels and a vigilant eye for potential catalysts. We will spotlight six penny stocks, shedding light on their crucial levels for potential breakouts and examining prospective catalysts on the horizon.

SEALSQ Corp. (NASDAQ: LAES) - Last week's closing at $1.03, down about 2%, has our attention on the $1.00 support level and potential resistance breakthrough at $1.28 for continued upward movement. Notably, the company recently unveiled a partnership for secure surveillance drones in public safety, government, and defense. Carlos Moreira, CEO of SEALSQ, highlighted their capability to support manufacturers in building cybersecure UAVs efficiently.

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Digital Brands Group, Inc. (NASDAQ: DBGI) - Closing the previous week's trading session with a 9% gain at $3.54 and a float under 1 million, we're monitoring a crucial resistance break and sustainment above $3.85 for potential upward momentum. The company recently shared positive news on Twitter, stating that Armistice has converted all pre-funded warrants, eliminating selling pressure, and assuring no planned offerings. Additionally, with only 860k shares outstanding and robust Q1 wholesale bookings set to ship from the week of 1/15, optimism surrounds the company.

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Laser Photonics Corporation (NASDAQ: LASE) - Closing the previous week with a 9% gain at $1.04 and a slightly over 3 million float, we're focused on the resistance break and sustained hold above $1.31. The company recently delivered a strategic update for shareholders, outlining business developments, achievements, and the 2024 strategic direction. Wayne Tupuola, CEO of Laser Photonics, emphasized the company's dedication to long-term expansion, growth, and enhancing stockholder value in both the short and long term.

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Mangoceuticals Inc. (NASDAQ: MGRX) - Closing down approximately 7% to $0.68 last week after reaching highs of $0.88, we're monitoring for potential rebound and watching support levels at around $0.64 and a secondary level at $0.58. The company recently disclosed its partnership with TRYBE Labs to offer customers an FDA-approved at-home blood collection device and testing services, signaling an expansion in product lines requiring blood tests and physician-reviewed results.

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Galecto, Inc. (NASDAQ: GLTO) - Closing last week's trading session down by approximately 4% at $0.60, we are closely monitoring the support level at around $0.56-$0.54. The company recently reported in their latest filing the completion of patient treatment in the MYLOX-1 trial, with topline results expected in Q4 2023. Notably, ongoing treatment for four patients and an extension phase for another four highlight clinical responsiveness to GB2064. Initial data from the trial suggests that inhibiting LOXL2 may reduce tissue collagen levels in various fibrosis and oncology indications.

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Signing Day Sports, Inc. (NYSE American: SGN) - Having IPO'd this month at $5.00 per share, the company closed last week's trading session with a 10% decline at $1.10. We are monitoring for a potential resistance break and sustained hold above $1.26. The company recently affirmed its commitment to business development growth plans, focusing on educating and recruiting athletes across various sports. It emphasizes the importance of maintaining investor confidence and prioritizing stockholders interests. The company, unaware of any fundamental reasons for the stock's decline, suspects illegal short selling and has initiated an investigation, pledging appropriate legal action based on findings.

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