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RSI low/high Values: [ 25 - 80 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of OCGN
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Ocugen stock price took a fall of -6.88% on Thursday
(Updated on Jun 20, 2024)

Sell candidate since Jun 07, 2024 Loss -19.69% PDF

The Ocugen stock price fell by -6.88% on the last day (Thursday, 20th Jun 2024) from $1.38 to $1.29. During the last trading day the stock fluctuated 9.13% from a day low at $1.26 to a day high of $1.38. The price has fallen in 8 of the last 10 days and is down by -29.01% for this period. Volume has increased on the last day by 1 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, 5 million shares were bought and sold for approximately $6.73 million.

The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.20 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 2.03% during the next 3 months and, with a 90% probability hold a price between $1.23 and $2.04 at the end of this 3-month period.

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OCGN Signals & Forecast

There are few to no technical positive signals at the moment. The Ocugen stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $1.43 and $1.64. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -35.10%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Ocugen stock

Ocugen finds support from accumulated volume at $1.25 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.115 between high and low, or 9.13%. For the last week, the stock has had daily average volatility of 8.33%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (OCGN) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Ocugen Inc to open at $1.31, and during the day (based on 14 day Average True Range), to move between $1.15 and $1.42, which gives a possible trading interval of +/-$0.138 (+/-10.73%) up or down from last closing price. If Ocugen Inc takes out the full calculated possible swing range there will be an estimated 21.45% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $1.25 (2.72%) than the resistance at $1.32 (2.72%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Ocugen Inc stock A Buy?

The Ocugen stock holds several negative signals and despite the positive trend, we believe Ocugen will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.370 Sell Candidate Unchanged

Predicted Opening Price for Ocugen Inc of Friday, June 21, 2024

Fair opening price June 21, 2024 Current price
$1.31 ( 1.69%) $1.29

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for OCGN

Fibonacci Support & Resistance Levels

Level Price
R3 1.42 10.64%
R2 1.38 7.22%
R1 1.35 5.10%
Price 1.29
S1 1.26 -1.73%
S2 1.24 -3.84%
S3 1.19 -7.26%

Accumulated Volume Support & Resistance Levels

Level Price
R3 1.59 23.74%
R2 1.34 4.28%
R1 1.32 2.72%
Price 1.29
S1 1.25 -2.72%
S2 1.24 -3.50%
S3 1.18 -8.17%

FAQ

What is the symbol for Ocugen Stock and on which exchange is it traded?
The symbol for Ocugen is OCGN and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Ocugen Stock?
The Ocugen stock holds several negative signals and despite the positive trend, we believe Ocugen will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

How to buy Ocugen Stock?
Ocugen Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Ocugen Stock.

What's the current price of Ocugen Stock?
As of the end of day on the Jun 20, 2024, the price of an Ocugen (OCGN) share was $1.29.

What is the 52-week high and low for Ocugen Stock?
The 52-week high for Ocugen Stock is $2.10 and the 52-week low is $0.345.

What is the market capitalization of Ocugen Stock?
As of the Jun 20, 2024, the market capitalization of Ocugen is 330.7M.

When is the next earnings date for Ocugen?
The upcoming earnings date for Ocugen is Aug 19, 2024.
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About Ocugen Inc

Ocugen Ocugen, Inc., a clinical-stage biopharmaceutical company, focuses on the developing gene therapies to cure blindness diseases. The company's pipeline product includes OCU400, a novel gene therapy product candidate restoring retinal integrity and function across a range of genetically diverse inherited retinal diseases, such as retinitis pigmentosa and leber congenital amaurosis; OCU410, gene therapy candidate for the treatment of dry age-related ... OCGN Profile

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