Small-Cap Strategies: Timely Breakouts & Near-Term Catalysts (PTPI, NURO, BCAN, BJDX, SRM)

Meticulously tracking five promising companies, analyzing a curated selection of five distinctive low-priced stocks for the week requires a focus on potential driving factors in the near term, along with an understanding of breakout and resistance levels. Foreseeing upward shifts and pinpointing crucial entry points are integral tactics. Exercise patience to manage risks linked to potential market declines and await confirmation through notable breakout thresholds.

Petros Pharmaceuticals, Inc. (NASDAQ: PTPI) - Petros Pharmaceuticals, Inc. closed last week down 7% at $1.12. The company has scheduled two FDA meetings to discuss the progress of developing STENDRA as an over-the-counter medication for erectile dysfunction. A Type C meeting is set for March 26, 2024, to review the digital app, focusing on development, study protocols, and a Summative Human Factors Study. A listen-only meeting is requested by the FDA in the week of March 11th for improved productivity. We'll monitor the stock's $1.04 support level for stability, considering its recent pullback from a spike, and await upcoming company updates.

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NeuroMetrix, Inc. (NASDAQ: NURO) - NeuroMetrix, Inc. stock closed last week at $3.03, down 5%. A few months ago, the company revealed positive results from a clinical trial by the University of Rochester, indicating Quell's effectiveness in improving symptoms and quality of life for chemotherapy-induced peripheral neuropathy (CIPN) patients. The company plans an FDA 510(k) filing in late 2023 or early 2024. We'll observe for a breakout above $3.20 with significant volume and monitor the $2.86 area for a potential double bottom, while awaiting future company updates.

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BYND Cannasoft Enterprises Inc. (NASDAQ: BCAN) - BYND Cannasoft Enterprises Inc. stock closed last week at $.19, marking a 5% decrease. In December, the company concluded the sale of 2,884,616 units to an institutional investor, generating about $1.5 million. Notably, each unit included one Common Share and a five-year Warrant for another Common Share at an exercise price of $0.52. In late January, the EZ-G project team arrived in Shenzhen, China, to finalize agreements with major manufacturers for the production of EZ-G devices and capsules. Mass production is set to commence post the Chinese New Year, concluding on February 24, 2024, aligning with the company's goal to begin sales in Q2 2024. We'll monitor the stock for consolidation, eyeing a break above the $.2150 resistance level for potential upward movement, and anticipating future company updates.

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Bluejay Diagnostics, Inc. (NASDAQ: BJDX) - Bluejay Diagnostics, Inc. shares closed last week at $.78, down 2%. In the previous month, the company completed a public offering, issuing 2,692,308 shares (or pre-funded warrants) along with warrants at an offering price of $1.30 per share. The warrants, exercisable at $1.30, remain valid for five years post-issuance. The company submitted a pre-submission application to the FDA in May 2023 for a new study design, received feedback during an August 11, 2023, pre-submission meeting, and confirmed a 510(k) as the appropriate premarket submission pathway. The company plans to proceed as per the FDA's feedback, targeting major medical and academic institutions for its study to support initial commercialization. Bluejay expects to maintain its Symphony IL-6 regulatory submission timeline for the first half of 2024. We'll watch for stock stability around $.70, a potential break above the $.84 resistance level, and anticipate further updates from the company.

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SRM Entertainment Inc. (NASDAQ: SRM) - SRM Entertainment Inc. ended last week's trading down 5% at $1.46. The company recently unveiled a new product line at Winter Market 2024 in Las Vegas, showcasing Zoo Animals, Sealife, and custom designs from January 28 to February 1. Rich Miller, CEO of SRM Entertainment, expressed excitement about featuring the creativity of the SRM Team. The company's shares recently hit new lows around the $1.20 area, and we are monitoring for a potential bottom base with consolidation or a resistance test around $1.55.

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