OCGN
If you saw different ideas on OCGN yesterday, you probably stumbled upon my idea that I made before the opening hours. I'll just do a quick rundown of what I mentioned.
- I suspected that the stock would be met with resistance at 10.3 because the RSI was too high at market opening. Just wait for the price to plummet from the resistance before going in.
This ended up being the case for the 2 first hours of the market opening before plummeting down to around 8.7 before going back up again giving traders a chance to gain profit.
- A golden cross had materialized and it had broken out of the downtrend.
A lot of people had already caught up to this so there is not much to say here. But I will say, having a golden cross formed can be a strong signal for a bullish run (high time frame --> more bullish).
- I suspected that it would be going down at 11-12.
I was pretty wrong in this department but it ended up being a profitable trade anyway. The price peaked at 13,65.
Do I think there will be another run? For now, it looks pretty bearish to me but I could be very wrong. I'd rather wait this out and see.
I try to keep this as simple as possible as I, myself, am pretty new to market trading. If there is anything you'd like to criticize or if you just want me to simplify something, just comment.
This is not financial advice! Do your own DD!
- I suspected that the stock would be met with resistance at 10.3 because the RSI was too high at market opening. Just wait for the price to plummet from the resistance before going in.
This ended up being the case for the 2 first hours of the market opening before plummeting down to around 8.7 before going back up again giving traders a chance to gain profit.
- A golden cross had materialized and it had broken out of the downtrend.
A lot of people had already caught up to this so there is not much to say here. But I will say, having a golden cross formed can be a strong signal for a bullish run (high time frame --> more bullish).
- I suspected that it would be going down at 11-12.
I was pretty wrong in this department but it ended up being a profitable trade anyway. The price peaked at 13,65.
Do I think there will be another run? For now, it looks pretty bearish to me but I could be very wrong. I'd rather wait this out and see.
I try to keep this as simple as possible as I, myself, am pretty new to market trading. If there is anything you'd like to criticize or if you just want me to simplify something, just comment.
This is not financial advice! Do your own DD!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.