OCGN 4-hour Chart: Aug. 1, 2022

As seen in this 4-hour chart, Ocugen (OCGN) appears to be in a pennant as it looks to break out from this bottom reversal pattern. The 2.33 low was a perfect 61.8% retracement of the move from the 6/15 low to the 7/8 near-term high at 3.11. The uptrend support currently sits around 2.20. That level needs to hold to maintain the medium-term uptrend reversal.

Another move over 2.73 should bring a quick retest of 3.11. A break of 3.11 could trigger a surge in volume and price with the next critical level coming in around 4.05.

Notify of
Would love your thoughts, please comment.x