Here’s what Jim Cramer had to say about some of the actions offered by callers over time Crazy money “Lightning Round” Tuesday night – Ocugen (OCGN): “This is a good speculative stock,” Cramer told the caller. The company was called Histogenics Corp. and is a clinical biopharmaceutical firm that focuses on the discovery, development and commercialization of a range of therapies for eye diseases.
Let’s “see” what the graphs show.
In this daily chart of the Japanese candlesticks of the OCGN, below, we find some interesting clues. Prices were set before mid-December. At the end of December, prices and trading volume come to life. Prices fall less for much of January, correcting the December rise, but in early February prices explode again. OCGN rises from $ 2 to $ 18 in a few sessions, with a large price deficit that has since been filled.
In terms of light volume and a fixed equilibrium line (OBV), prices have given up much of their gains and are trading below the 50-day moving average line. The 12-day price momentum study does not yet show a clear bullish divergence to suggest that the withdrawal is over.
In this weekly OCGN bar chart below, we went back three years ago and had to use a log scale to display price movements correctly. Prices have fallen for much of 2020 before the recent upward movement. The rally met resistance at selling in the $ 15 area, which is not surprising in that area as it was supportive in 2019. Prices are above the 40-week moving average.
The weekly OBV line shows some weakness in the last two months, suggesting that some traders have been more aggressive sellers in approaching the $ 15 area. The MACD oscillator is too difficult to read on this scale.
In this daily chart of OCGN points and figures, below, we can see a potential negative price target in the area of $ 1.50. Uch. Graphic support starts at $ 3.50.
In this weekly chart of OCGN points and figures, below, we see a $ 2.50 disadvantage target. A weekly transaction of $ 19 is required to return the chart.
Baseline strategy: Eye disease is probably a growing industry, given the demographics in the United States and other developed countries. (I called yesterday for a meeting with our ophthalmologist and he is making reservations in June now.) Unfortunately, the OCGN charts are listed below right now. Let’s stay on the edge until a fresh and durable base is formed.
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