Volatile ride for Ocugen Inc stock price on Tuesday moving between $8.31 and $13.23

The Ocugen Inc stock price fell by -2.03% on the last day (Tuesday, 26th Oct 2021) from $9.34 to $9.15. During the day the stock fluctuated 59.11% from a day low at $8.31 to a day high of $13.23. The price has been going up and down for this period, and there has been a 0.44% gain for the last 2 weeks. Volume has increased on the last day by 204 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 229 million shares were bought and sold for approximately $2.09 billion.

On Aug 09, 2021 "HC Wainwright" gave "$10.00" rating for OCGN. The price target was set to $8.28+5.3%.

The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 13.45% during the next 3 months and, with a 90% probability hold a price between $8.00 and $11.57 at the end of this 3-month period.

The Ocugen Inc stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $8.66 and $7.83. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, October 14, 2021, and so far it has fallen -8.96%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Ocugen Inc finds support from accumulated volume at $9.11 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $4.92 between high and low, or 59.11%. For the last week, the stock has had a daily average volatility of 19.86%.

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Ocugen Inc stock to perform well in the short-term.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.