I’m not in OCGN at the moment but I was asked by a panicked trader (you know who you are). Much holding of the nerve is required, but he’s not used leverage on the trade so he doesn’t need to worry.
OCGN did a lovely rally and then decided no longer to head towards the upper part of the channel and has now decided to be quite flat. However, the 10-minute chart shows a chance of a reversal forming ready to go bullish again.
Yesterday the stock managed a small move up from $7.57 to $8.53 which is bullish but it has a long way to go to get back to the dizzy heights of $14. I think we won’t see much movement till the quarterly earnings on the 29th of March.
With an ATR of $1.92, $2 a day to get back to $14 at this rate will take a week or more, but I think good earnings should actually push the stock up with Gusto. But that’s not till later in the month.
Remember folks, don’t use leverage and you can stay in the stock till the company goes bust. This is why I tell people to invest small amounts in lots of companies, don’t throw all your eggs in one basket. If you have $200 to invest, go for 4 different options at $50 a time, maybe 2 cryptocurrencies and 2 stocks. BUT ENTER AT THE RIGHT TIME and DO YOUR HOMEWORK. Trust me, I get it wrong sometimes and get in too early or too late.
I hope you appreciate this gentle reader as I’ve had a covid vaccine and I’m not feeling too great. Oh by the way I’m thinking about doing some mentoring sessions on how to evaluate stocks and read charts for a small fee.
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