I have been following Ocugen for quite some time now and decided to reassess with the recent run up on 10/26/2021. Using trendlines, fibonnaci and pitchforks it seems that the downtrend will finally break with todays confirmation. (CHECKOUT THE MOVING AVERAGES AS WELLL) With news of COVAXIN getting WHO approval on NOV 3, I speculate that this will run parabolic to its old prices.
Am i doing this right? whats everybody elses thoughts?
I wonder if fibonnaci and stochastic models work when dealing with a reddit meme stock. There are a lot of amateurs involved in the pricing and the charts reflect their fears and hype. Financial valuations and forecasts for any potential revenue cause me to value this stock at $8. I own it at $15, so I am watching for my first reasonable exit. For many, the stock is up 2500 percent, so there should be a lot of happy speculators. I can't consider this an investment.
ToastChamp
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@pentiumii, A company with an inactivated vero-cell Covid vaccine that can be stored at refrigeration temperatures and has no serious side effects isn't an investment to you? I might reconsider who you are calling amateurs, and definitely which stocks you lump into the "meme stock category".
pentiumii
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@ToastChamp, Investorplace's own Thomas Niel included OCGN in his list of "7 Meme Stocks to Avoid Like the Plague" noting that they "have little more than Reddit hype backing them up". And I seriously doubt that even the Reddit hypers wouldn't call themselves amateur investors. OCGN does not have the vaccine that you describe, they have a license to sell/distribute that vaccine in the US and Canada. The US won't be buying their vaccine and OCGN delayed their approval process so long that even Canada won't need it. Even with their current stockpile of money, and some potential orders from places that they are not yet licensed to sell, a generous valuation would be between 7 and 8 dollars. If you follow the reddit hype, you will see great enthusiasm for the effects of The WHO approval. The FDA has already rejected consideration of this vaccine. That is not to say there are no opportunities to profit from the rubes, but to call it an investment would be a stretch.
ToastChamp
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@pentiumii, Anyone with a reasonable degree of investing knowledge doesn't read investorplace. The articles are solely written to benefit the position of the author which is typically a short position. Absolute scumbags. The US will be using the vaccine. Ocugen submitted the IND application for a bridge-study approval with the FDA last week. I can tell you aren't up to date with Ocugen at all and you've been drinking the Investorplace coolaid. This articles are targeted at the 50+ crowd who are easily swayed by fear. This particular generation is susceptible to online articles. Anyway, Covaxin has unique benefits in its platform as a booster and a pediatric vaccine. Ocugen is absolutely an investment. I'm really trying to help you - stop reading investorplace and research companies on your own. Watch conferences and fireside chats.
ToastChamp
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@pentiumii, It is amazing to me sometimes that sites like Investorplace can sway people to avoid something like a vaccine stock after watching runups like Novavax and Moderna. Are they apples to apples with Ocugen? No, they're not. But Ocugen can generate significant revenue through the Covax campaign, USA, and Canada. Jubilant Hollister (their manufacturer) probably has the tech transfer close to finished. We'll see in the long run, but please stop reading Investorplace.
pentiumii
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@ToastChamp, Which is more amazing. That people can be swayed by a site like investor place with names and numbers or an anonymous name on a trading software chat? Don't get me wrong, I want the stock to go up, and the entertainment value of reading people hype the stock that has a 52 week low of 17 cents and predicting it will go to $200 is somewhat fun. Sadly, my point was lost. My original point asked how someone can depend upon models to predict the future of a stock that is driven purely by hype on reddit. Now I might find value in the analysis if someone referred to the reddit model but I simply cannot see how fibionnaci can be applied. We need a reddit chart.