End of Day Wrap Up 02/08/2021
The Highlight of the Day: Ocugen Inc (OCGN)
Today my long term investment, Ocugen (OCGN) ran 166.09% with 719.5M in volume, with a High of Day of $18.77, Low of Day of $9.13, Closing at $15.81. After hours, OCGN closed at $13.96 -$1.85, -11.70%, so tomorrow we’ll have our first red day (at least during pre-market hours) since 02/03/2021, which is my favorite time to accumulate for the ride up. I’ve actually been waiting for a pullback, but it’s had a crazy run for the past week. I’m holding this long term until 2025, and I’m excited to see the growth of Ocugen.
Why I Invested in Ocugen Inc (OCGN)
- Pipeline for their modifier gene therapy platform: OCU400, OCU410, novel biologic: OCU200, and vaccine: Covaxin View Here
- Corporate Presentation with Planned Timeline View Here
- Consistent and Ongoing Communication with Shareholders View Here
- Ongoing News and Events, which shows strong Public Relations View Here
- Recent Registered Direct Offering, priced HIGHER ($7.65) than the closing price on Friday of $5.25, which I haven’t seen a company do in a very very long time. Ocugen intends to use the net proceeds from the offering for general corporate purposes, capital expenditures, working capital and general and administrative expenses for the continued growth of their company, which I’m fully in support of. View Here
- Sec-Filings View Here
- Ongoing Communication within the Professional Network on LinkedIn View Here
We all have our reasons for choosing to invest long term in a company, and for me, Ocugen Inc was one of those companies that I had a good feeling about. They had a rough year last year, as did every company, but I actually think the pandemic gave them the nudge they needed to switch gears. I took notice of Ocugen last year in June 2020 when their stock price dropped to $0.17.
What About All the Bad Press Back in June 2020?
I did a ton of research, and at the time there was a TON of bad press. Of course, being who I am, I decided to do some investigating, and I personally believed this company can turn things around. The more hate that spread about Ocugen, the more I wanted to invest and prove those people wrong. I tend to do opposite of what others tell me to do, so when they say sell and avoid, I buy, and I buy a lot (after doing my due diligence, of course).
Stock Split History
Ocugen (OCGN) has had one split within their history, which took place on September 30, 2019. This was a 1:60 reverse split, meaning for each 60 shares of OCGN owned pre-split, the shareholder now owned 1 share.
Ocugen’s Charts Week of 02/08/2021
How to Utilize My Positions List Below
Many ask how to utilize my top 10 green/red position lists below. Oftentimes, I will exit my green swing positions if it looks like there will be no continuation. My decision varies depending on what my cost price is. It’s all about managing risks, and if it looks like I’ll be in a position where, I’ll be down, I won’t hold, and will choose to reposition myself by accumulating dips on red days over a period of time until it’s ready for the next run.
To Buy On Green Days or Not
I will add to my green positions on green days only if it’s moving in the direction I like and forming higher lows, and showing a bullish chart. I make sure to scale when adding, especially on green days, because it can go south quickly.
To Buy on Red Days or Not
I will almost always accumulate my red positions because they usually move back up, unless it’s a clear pump and dump, which I will never swing because it’s too risky. If there are sharp spikes and a quick drop down, then it’s a clear pump and dump. If the chart slowly drops in price throughout the day, then that’s usually people taking profits. To make the call on re-entering or accumulating, I look at the 5D, 10D, 30D, 90D, 180D charts and I monitor the volume. I love adding when there’s little to no volume when setting up long swings.
Top 10 Green Positions (02/08/21):
Top 10 Red Positions (02/08/21):
I monitor Market Movers every single day to scan for new setups. I mainly look for positions with unusual volume that are at the bottom, ready for a reversal back up, or if they remain green, I look for a bullish chart for a continuation.
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Disclaimer : This should not be considered investment advice, and should not be used to make investment decisions. Do not buy or sell any stock without conducting your own due diligence. Information on eyelovegains.com is opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts and data provided here are not meant for investment purposes and only serve as examples. We are not liable for any losses you may endure from the buying and selling of stocks or securities within your accounts.