Looking at Ocugen, Inc. as a potential swing setup after a long period of basing.
The stock has spent the past few years in a steady downtrend but appears to have formed a rounded base between ~$0.80 and $2.00. Recently price has been pushing back toward a major resistance level around $2.08, which has acted as a key pivot multiple times.
If price can establish acceptance above this area, the next major resistance sits around $3.00–$3.10, which could become the next target zone.
Key levels I’m watching:
Support
• ~$2.08 – prior resistance that could flip into support if broken
Resistance
• ~$3.08 – major overhead supply from previous structure
The idea here is that after a multi-year bottoming structure, a breakout above $2.08 could open the door for a stronger momentum move toward the $3 range.
This is strictly a technical swing setup based on structure and base formation, not a long-term fundamental play.
The stock has spent the past few years in a steady downtrend but appears to have formed a rounded base between ~$0.80 and $2.00. Recently price has been pushing back toward a major resistance level around $2.08, which has acted as a key pivot multiple times.
If price can establish acceptance above this area, the next major resistance sits around $3.00–$3.10, which could become the next target zone.
Key levels I’m watching:
Support
• ~$2.08 – prior resistance that could flip into support if broken
Resistance
• ~$3.08 – major overhead supply from previous structure
The idea here is that after a multi-year bottoming structure, a breakout above $2.08 could open the door for a stronger momentum move toward the $3 range.
This is strictly a technical swing setup based on structure and base formation, not a long-term fundamental play.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.