OCGN trade ideas
$OCGN Continues to Consolidate in Constructive MannerOCGN is a strong growth name that has been consolidating its massive rally from Dec-Feb over the past 3-4 months. This consolidation has taken the form of a symmetric triangle, which is normally technically constructive, pointing to a potential test of the sloped resistance line now sitting above in the $15 area.
OCGN Daily ChannelVery volatile stock in the past that has kept popping up. Purely technicals in this post but the daily channel is looking pretty after a few more red days.
OCGN wave analysiscompleted a W-X-Y complex correction comprising of a zigzag and expanding triangle. possibly completing a 1,2 - 1,2 right now. invalidated below $8.05.
OCGN with a breakoutNot an Advisor.
OCGN just broke downtrend on my pitchfork shown. Have several indicators in which we can see more bullish action to follow. Volume is still below average daily volume of 57 million. Wanting to see that get beat out. Bollinger bands are tightening up really nice here, I'm assuming we will see the tube come out a little bit before we see price action move up quickly. (however that doesn't need to occur in order to move up)
9 MA is about to cross bullish over the 21 MA
MACD is about to golden cross as well, want to see that happen to see things really ramp up.
Stoch is on a fast slanting line upward to the top bar of the indicator signaling strength to come, wanting to see that cost along the top bar and hold to see continued strength amongst price action.
RSI is at a middle ground of 53, this is BULLISH. A lot of room on this runway. Remember this is the daily chart so movement will vary amongst the timelines, but look for divergence on rapid movements in the intraday trading.
I think there is a chance for a retest and a little brief period of consolidation before this moves up, watch volume come roar in. That will be a clear sign of when you will see this truly move. A lot of distraction in the market right now with AMC - so careful with trades. Watch for ripple effects to that as well. It did not go over well with the GME craze months back. I may look to add some calls here after I close a few positions elsewhere.
GLTA
OCGN Bull or BearVolume will be the difference. I expect a retest to 8.67 but if the volume is too low, expect a hard resistance. If we break through with volume, expect the target areas to hit. I would not be surprised with a retest to 8.25 early or after the rejection of resistance just due to the current low volume.
Bullish but high risksBullish but high risks. Nice triangle.. similar pattern with AMC before the breakout. consistently higher low with nice volume support
OCGN - OCUGEN INC FORECASTOCGN now in the buy zone. I personally took a position here. Stoploss below white line, take profits at colored lines above green. Good chance this one tests 5.81 but looks good to test above levels if it holds that price. THIS IS NOT FINANCIAL ADVICE. DO NOT BLINDLY FOLLOW THIS TRADE.
$OCGNMy latest idea on OCGN.
If that triple bottom breaks out, we could rocket to go test that gap and hopefully past through it.
Ocugen - Ascending Triangle 🔺5If OCGN manages to keep the nose above the level 7.50-7.60 and keep rising, we can see a major rise to $15.
-Putting our target price to $15.
-Stop-Loss: $7
Swing trade IdeaI still think that there is a very high probability of OCGN moving towards DEMAND ZONE before it will make another big run (please take a look at the snap shot below for supply ,demand and control zones (click on the snap shot 3 times to expand )
But if OCGN will stay in the current consolidation zone for some time ,then here is the game plan to take advantage of that .
Swing trade idea :
Entry : $7.86
Stop: $7.60
1st target : $9.05 - drop 50% of shares R/R 1 to 4.5. (R/R is Risk/Reward)
2nd target : $9.55 - drop 30% (of the original 100%) R/R 1 to 6.5
3rd target : $10.46 - drop 20% (rest of the shares ) R/R 1 to 10
Stop loss for the 2nd and 3rd target must be adjusted to $9.05 when price move above $9.05 and 1st target is reached. When 2nd target is reached ,then stop loss must be adjusted again for the 3rd target to $9.55 when price move above $9.55
That way you will lock at least 1 to 4.5 R/R
Entreatment purpose only,not financial advice .
USING CHARTS to BUY OCGNWe look at technical analysis, You tube Flash Instincts FOR full in debt videos.
Trading Idea - #Ocugen#Ucugen breaking out of the ascending triangle.
- Trend continuation to 20.00 USD expected!
- Ocugen Inc. is a biopharmaceutical company focused on the development, development and commercialization therapies for eye diseases.
- Ocugen is developing a vaccine against COVID-19.
- Number of employees: 15 people.
Will it hold?I think if OCGN close today below the line marked with the orange star it can move all way down to $6 area ,but stay alert if that zone gets penetrated then OCGN can move all way down to low $5 zone.
Relatively safe area to enter long is at low $5 area with stop at high $4 zone (look at the prices marked on the chart).
P.S. Not financial advice
OCGN - 1hr with fibs and EMABeen posting examples of how fib retracements can help with support and resistance. great example with this ticker. NO position.
