Ocugen (#OCGN) appears to be forming an inverse head-and-shoulder pattern on this 4-hour chart. Support based on the left shoulder line comes in around $2.60. Based on the trajectory of the near-term falling wedge, intersection at that support would come late week next week or the start of the following week. If that level were to break, you can see the drop could get steeper fast. Resistance on the horizontal channel currently sits around $4.25.
RSI shows bullish divergence. Observe the ascending support trendline compared to the descending line for the same time period on the price chart. I expect that RSI will fall to the 30 signal line, and likely below into oversold territory, before a reversal.
