I still think that there is a very high probability of OCGN moving towards DEMAND ZONE before it will make another big run (please take a look at the snap shot below for supply ,demand and control zones (click on the snap shot 3 times to expand )
But if OCGN will stay in the current consolidation zone for some time ,then here is the game plan to take advantage of that .
Swing trade idea :
Entry : $7.86
Stop: $7.60
1st target : $9.05 - drop 50% of shares R/R 1 to 4.5. (R/R is Risk/Reward)
2nd target : $9.55 - drop 30% (of the original 100%) R/R 1 to 6.5
3rd target : $10.46 - drop 20% (rest of the shares ) R/R 1 to 10
Stop loss for the 2nd and 3rd target must be adjusted to $9.05 when price move above $9.05 and 1st target is reached. When 2nd target is reached ,then stop loss must be adjusted again for the 3rd target to $9.55 when price move above $9.55
That way you will lock at least 1 to 4.5 R/R
Entreatment purpose only,not financial advice .
But if OCGN will stay in the current consolidation zone for some time ,then here is the game plan to take advantage of that .
Swing trade idea :
Entry : $7.86
Stop: $7.60
1st target : $9.05 - drop 50% of shares R/R 1 to 4.5. (R/R is Risk/Reward)
2nd target : $9.55 - drop 30% (of the original 100%) R/R 1 to 6.5
3rd target : $10.46 - drop 20% (rest of the shares ) R/R 1 to 10
Stop loss for the 2nd and 3rd target must be adjusted to $9.05 when price move above $9.05 and 1st target is reached. When 2nd target is reached ,then stop loss must be adjusted again for the 3rd target to $9.55 when price move above $9.55
That way you will lock at least 1 to 4.5 R/R
Entreatment purpose only,not financial advice .
Note
Note
OCGN moved to $7.87 today ,($0.01 short of posted above entry zone) and then briefly bounced up to $8.65 and closed the day at $7.95Note
OCGN did show strong rejection from the entry zone price line like it did before ,possible move down to the mid $7 is possible .Game plan mentioned above is cancelled .
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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.