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Last Update: May 8th, 2021
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Ocugen retested its critical medium-term consolidation and short-term flag resistance levels Friday (4/30/21) before pulling back some. It needs to breakout soon to avoid a pullback toward Support 1 around $10. A break over Friday’s high of $13.37 is key to overcome the descending highs on the resistance trendline. A clean break should bring a massive volume surge and likely continuation toward the low-20s. Daily RSI is high at 74, but this isn’t uncommon ahead of a fast-moving breakout. RSI can easily run to 90-95 before buying exhaustion truly kicks in. Be aware for a fast, sharp retracement when that point is reached, with the breakout level providing initial support. The short-term flag presents a very bullish orientation with a positive high-low correlation on the daily candles.